Insurers not meeting requirements to be withdrawn from market 

12:27 - 22.05.2024

May 22, Fineko/ Insurance companies that do not meet the requirements in Azerbaijan will be withdrawn from the market within the framework of the law.

ABC.AZ reports that Ziya Aliyev, CBA general director and chairman of the Board of Trustees at the Compulsory Insurance Bureau, stated about this at the conference on a sustainable financial system against catastrophic risks in Baku.

"After the CBA became the regulator in the field of insurance, it implements a large-scale strategy for the development of this area. One of the main goals is to strengthen confidence in the insurance market. For this, the control over insurers has been significantly strengthened. Measures are being taken with regard to their financial stability, as well as in connection with their attitude towards insurers," he said.