OREANDA-NEWS. October 5, 2012. Soglasie, one of the leaders of the Russian insurance market, has appeared at the Azerbaijani market.

At yesterday’s press conference in Baku Company’s general director Elnur Suleymanov informed that in the prospect the Company will consider changing the status of the representative office into an affiliated branch.

"We may consider the issue of change of the representative office into a subsidiary, but it will happen in the next 2-3 years, depending on the development of business in Azerbaijan," Suleymanov said.

He added that the Company may consider the matter if its business in Azerbaijan develops.

"At present, the main goal is to provide significant development and growth in all categories in the Russian market, and this issue is a priority now. So I’d like to note that we entered in the Azerbaijani market with ambitious plans and will consider the change of status," Suleymanov said.

The representative office of insurance company Soglasie passed state registration in tax organs of Azerbaijan on 19 June 2012.

On 28 September, Soglasie will mark the 19th anniversary of its activities on the Russian market. Paid-up share capital of the company is 4.3 billion rubles. In the 1st half of 2012 the total amount of insurance premiums within the framework of mandatory and voluntary insurance agreements reached 16.4 billion rubles, exceeding the index of collection of premiums for the same period of 2011 by 33.1%. The total amount of insurance payments makes up 8.3 billion rubles. The Company’s partners on reinsurance are Hannover Re, Munich Re, Swiss Re, SCOR and other companies.