Georgian insurance company enters Azerbaijani market

The Central Bank of Azerbaijan (CBA) has registered the local subsidiary of the Georgian Magnus insurance company, Magnus Insurance Broker LLC, Report informs, citing CBA.

With this, a foreign broker entered the insurance market of Azerbaijan after a 5-year break. The last time in 2019, the Austrian company GrECo JLT Specialty GmbH was registered as insurance broker.

With the entry of the new company into the insurance market, the number of foreign brokers in the CBA register has reached 86.