At the first Assembly of the Turkic World Insurance Union held in Shusha, Azerbaijan, insurers from Turkic states signed a joint "Proclamation Document."
AZERTAC’s regional correspondent reports that, according to the signed document, the Turkic World Insurance Union has been restructured based on the goals and principles of the Organization of Turkic States. In addition to the five founding member countries, the insurance associations of three countries - Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus - have joined the Union as observer organizations.
The primary objective of the Turkic World Insurance Union is to facilitate the mutual exchange of experience, personnel, and information among the insurance markets of member and observer countries of the Organization of Turkic States, systematically develop reinsurance relations, and achieve sustainable and resilient growth in the insurance markets of the brotherly countries.