AZERBAIJAN – EBRD
November 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) is to try and pump-prime the non-life insurance sector in the growing petro-economy of Azerbaijan. The bank thinks there is potential for significant growth in this market, given that non-life and life premiums together amount to less than 1% of GDP. This compares with an average of 3-4% for eastern European members of the European Union (EU), such as Hungary and the Czech Republic. As a first step, the EBRD is acquiring a 30% stake in the Azerbaijan-owned MBASK Insurance Company, ...
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