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Azerbaijan Reinsurance Market

Azerbaijan Reinsurance Market. Azerbaijan International Insurance Forum Fuad Kuliyev ( AzRe ) June 20, 2013. General Information. Establishment: 28 May 1918 Independence: 18 October 1991 Official Language: Azerbaijanian Political system: Presidential

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Azerbaijan Reinsurance Market

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  1. Azerbaijan Reinsurance Market Azerbaijan International Insurance Forum FuadKuliyev (AzRe) June 20, 2013

  2. General Information Establishment: 28 May 1918 Independence: 18 October 1991 Official Language: Azerbaijanian Political system: Presidential Republic Area: 86.6 ths. sq. km. Population: 9,36 million Capital: Baku Autonomous Republic: Nakhchivan Currency: Manat AIIF 2013

  3. Macroeconomic indicators AIIF 2013

  4. Country ratings • Long term credit rating: “BBB-” with stable outlook • Long term credit rating: “BBB-” with stable outlook • Long term credit rating: “Baa3” with stable outlook AIIF 2013

  5. Insurance Market (USD) AIIF 2013

  6. Gross / Net Outgoing Reinsurance Premium Gross Reinsurance Premium AZN 88,17 mln Net Reinsurance Premium AZN 81.40 mln AIIF 2013

  7. Paid Claims & Loss Ratio Paid Claims – AZN 14.49 mln Loss Ratio AIIF 2013

  8. Life and Non-life Gross written premium Loss Ratio AIIF 2013

  9. Proportional & non-proportional Gross reinsurance premium Net reinsurance premium AIIF 2013

  10. Reinsurance structure (by types) AIIF 2013

  11. Paid Claims AIIF 2013

  12. Loss Ratio (Claims/NRP) AIIF 2013

  13. Reinsurance structure (by countries) AIIF 2013

  14. Reinsurance structure (overseas reinsurers) AIIF 2013

  15. Reinsurance Structure (by S&P rating) AIIF 2013

  16. Reinsurance Structure – overseas reinsurers only (by S&P rating) AIIF 2013

  17. Initiative for market Cat coverCountry risk profile AIIF 2013

  18. Initiative for market Cat coverBackground of demand Main risks • Earthquake • Floods • Landslides • Hailstorm Loss history • Zaqatala earthquake, April 2012 – AZN 420 mln economic loss • Kur-Araz floods, April-May 2010 – AZN 20 mln economic loss • Baku earthquake , 2001 Covered natural perils by compulsory law Earthquake, volcanic eruption, storm, hailstorm, hurricane, flood, inundation, heavy rain, landslide AIIF 2013

  19. fkuliyev@azre.az THANK YOU

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