CBA: Strengthening insurance sector resilience is key priority

One of the main strategic priorities of the Central Bank of Azerbaijan (CBA) is to strengthen the financial resilience of the insurance sector, Panah Bannayev, Director of the Insurance Activity Regulation Department of the CBA, said at the Turkic States InsurTech Summit 2025 in Baku.

According to Bannayev, this priority aligns with the strategic objectives of other Turkic states:

"Corporate governance, risk management, and aligning public disclosure with international standards are among our main priorities. Alongside sector resilience, its growth is also a key focus. This includes improving the accessibility and quality of mandatory and voluntary insurance products and systems, strengthening digitalization, enhancing public awareness, and developing professional personnel," he said.