Türkiye, Azerbaijan to cooperate on earthquake insurance

Türkiye will share expertise and cooperate with Azerbaijan in earthquake insurance and other insurance fields, said Ugur Gulen, Chairman of the Insurance Association of Türkiye, Report informs.

Speaking to journalists on the sidelines of the first Assembly of the Turkic World Insurance Union held in Shusha, Ugur Gulen underlined that Türkiye's insurance sector is larger compared to other member countries:

"Currently, Türkiye's insurance sector provides $24–25 trillion worth of coverage, encompassing $1.2 trillion in economic activity. By the end of 2025, insurance premiums are expected to reach $30 billion."

He added that sharing Türkiye's experience gained through earthquake and agricultural insurance pools with Azerbaijan and other Turkic states is a great honor:

"This exchange will pave the way for broader cooperation in the insurance field in the future."