OREANDA-NEWS.  January 31, 2012. The Azerbaijan Insurers Association (ASA) has held today a regular meeting of the founders.

ASA executive director Azer Aliyev informs that the main theme of the meeting was to approve Association’s budget for this year.

"Our budget for 2012 exceeds the 2011 budget by 40%," Aliyev said.

At that, the last year’s ASA budget totaled about 170,000 manats.

In compliance with the previous taken decision of the founders, the Association introduced a differentiated membership fee. The size of contributions ranges 5,000 up to 16,000 manats. The maximum amount of the fee is fixed for 9 members of the ASA Supervisory Board. For other companies the amount of membership fee will be defined depending on the position of the company, its market share and other criteria. ASA admitted not only insurers and reinsurers in its member ranks, but also brokers and assistant companies.