First Assembly of the Turkic World Insurance Union Held in Shusha

The first Assembly of the Turkic World Insurance Union was held in the city of Shusha.

The Assembly took place with the strategic support of the Central Bank of Azerbaijan, the organization of the Azerbaijan Insurers Association, and the participation of the Organization of Turkic States (OTS). The Assembly was attended by Aliyar Mammadov, First Deputy Chairman of the Central Bank of Azerbaijan, Nagif Hamzayev, Member of the National Assembly (Milli Məclis), Farid Mammadov, an official of the Organization of Turkic States, as well as representatives of financial regulators and insurance associations from Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, Uzbekistan, and the Turkish Republic of Northern Cyprus.

Within the framework of the Assembly, a "Proclamation Document" on the reformation of the Turkic World Insurance Union, based on the goals and principles of the Organization of Turkic States, was signed. Consequently, in addition to the 5 founding members, the insurance associations of 3 more countries (Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus) were included in the Union as observers.

At the Assembly, extensive discussions were held on current topics of sectoral importance across two panels: "Regulatory Approaches in the Turkic World Insurance Industry" and "Turkic World Insurance Union: Goals and Prospects Ahead."

At the end of the event, the host country for the next assembly of the Turkic World Insurance Union, planned for 2026, was also announced. By the unanimous decision of the Union members, the next assembly of the Turkic World Insurance Union will be held in Türkiye in 2026.

It should be noted that the Turkic World Insurance Union was established on May 24, 2022, at the International Insurance Summit in Istanbul, Türkiye, with the membership of the insurance associations of Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan.