ADB to support development of insurance in Azerbaijan

A meeting was held between the Azerbaijan Insurers Association (AIA) leadership and the country director of the Asian Development Bank's (ADB) for Azerbaijan, Candice McDeigan.

During the meeting, Executive Director of the Association Elmar Mirsalayev briefed the ADB management on the organization, spoke about the situation in the local insurance market and development prospects. Stressing that the sector is at a new stage of development, the AIA official noted some issues that need to be addressed within the existing market conditions.

McDeigan said they were closely interested in the Association's activities and the processes in the insurance market. She stressed the exchange of information on the insurance sector between the two institutions. As a result, ADB will explore opportunities to provide technical support for the sector's development in identifying real problems in the local insurance market and identifying solutions.