Chairman of the Central Bank Taleh Kazimov met with heads of insurance companies.

The Central Bank told APA that the purpose of the meeting was to support the sustainable development of the insurance sector in the new stage of economic development, increase the sector's competitiveness, strengthen joint activities to introduce innovative products and expand the insurance market, as well as insurance of the population and business. The sides exchanged views on measures to facilitate access to services and strengthen public confidence in insurance.

Speaking at the meeting, the Chairman of the Central Bank stressed the importance of expanding the insurance market in the implementation of these tasks, emphasizing the goals of President Ilham Aliyev to ensure sustainable economic development in the country, increase the material and spiritual well-being of citizens and ensure its sustainability.

He said that as a result of the constructive policy pursued under the leadership of the President, the country has achieved macroeconomic stability and a serious economic growth rate, which has created a favorable economic environment for the development of insurance services.

The Chairman of the Central Bank also stressed the need to further deepen cooperation between the regulator and market participants, noting the importance of strengthening mutually beneficial cooperation with insurance market participants.

The Chairman of the Central Bank informed about the work being done to further improve the legislation in the field of insurance, provide affordable digital solutions for market participants and other areas of interest. said.

Emphasizing the high growth rates of the insurance sector in recent years, Kazimov also stressed the importance of investing in strengthening the human resources of market participants, further development of information technology and institutional development of insurance companies against the background of future development priorities and goals.

Speaking at the meeting, the heads of insurance companies expressed their views on economic development trends in the country, opportunities to expand the insurance market, the work done to improve the quality of services provided to insurance consumers, as well as current concerns in the sector.

In order to ensure transparency in the insurance market and support a free competitive environment, the sides exchanged views on further expanding cooperation between the Central Bank, the Compulsory Insurance Bureau, the Azerbaijan Insurers Association and market participants.