Central Bank holds meeting on launch of Actuarial Development Program

21-12-2022

21 December 2022, Baku: The Central Bank of the Republic of Azerbaijan continues large-scale strategic activity for nonstop and sustainable development of the insurance sector. One of the intensively implemented projects in this direction is the project of expanding the human resources potential of insurers. As part of this project, which serves to improve the professional knowledge and skills of employees of insurance companies, as well as those wishing to work in this industry, the Central Bank organizes training programs at the international level in various professional categories in the field of insurance.

Development of the actuarial sphere, which plays an important role in measuring the financial stability of insurance companies, is among the priorities of the Central Bank. The Central Bank, jointly with the Azerbaijan Insurers Association, has launched the Actuarial Development Program with the aim of forming a new generation of actuaries in the country with modern knowledge and skills. The participants of the Actuarial Development Program organized at the international level have got the opportunity to get work experience in the insurance sphere along with theoretical knowledge. The program, enriched with theoretical and practical trainings by the Turkish Insurance Institute (TSEV) and local experts, will last for 15 months.

On 19 December 2022, the Central Bank hosted a meeting with 90 participants eligible to participate in the Actuarial Development Program. At the meeting, participants were explained in detail the goals and requirements of the program and were given the necessary recommendations for successful participation in the program.

Those who successfully complete the Actuarial Development Program will have the opportunity to continue working in the insurance sector in their respective professions.