CEO Greeting

Welcome to AzRe, the only reinsurance company in Azerbaijan, offering innovative products, responsive service and unsurpassed financial strength.

AzRe Reinsurance OJSC underwrites virtually all classes and categories of business in treaty, facultative and specialty lines, both through brokers and directly with ceding companies. AzRe Reinsurance professionals have the technical expertise and market knowledge to produce tailored solutions precisely fitted to customer needs. Explore AzRe through this Web site. Begin to experience the capabilities that make AzRe stand out in today's market.

History

Hereby you will find important events in the history of AzRe Reinsurance. We hope that this part of the web site will be full of successful facts time to time.

  • October 2007 AzRe is registered by Ministry of Justice of Azerbaijan Republic.
  • November 2007 AzRe receives license for providing reinsurance services from Ministry of Finance of Azerbaijan Republic.
  • In November 7, 2012 by the Ministry of Finance of Azerbaijan Republic was granted the permanent license to carry out reinsurance activities for "AzRe Reinsurance" OJSC.
  • In October 17, 2014 A.M. Best has assigned a financial strength rating of B+ (Good) and an issuer credit rating of "bbb-" to AzRe Reinsurance. The outlook assigned to both ratings is stable.

AzRe Reinsurance OJSC conducts reinsurance business according to Lisence No 000800 issued by the Ministry of Finance of Azerbaijan Republic.

Philosophy

AzRe Reinsurance is the only company in Azerbaijan specializing strictly in the reinsurance business. It is able to reinsure all classes of insurance business from simple property insurance to complex industrial risks. We aim to help local insurance industry to provide protection for a wide range of risks, including the largest and most complex risks.

AzRe provides reinsurance solutions for Non-life insurance industry. We work closely with our cedents and insurance brokers to understand their strategic and operational issues, with this knowledge, we develop risk transfer solutions tailored to their specific coverage needs. Also, our team is proud to offer a fast, professional and totally efficient claims handling service that meets the needs of our cedents. Our philosophy is directly connected with our MISSION and VISION.

Vision - Our vision is to become premier reinsurance partner for local and regional cedents.

Mission - We strive to deliver best-in-class customer service and attractive shareholder returns.

Principles and values

The following statements explain the beliefs and principles that motivate us and govern how we relate our clients as a transparent and trustworthy business partner.

Listen and respond - We listen to our clients as, working with them closely to design solutions that keep them ahead of the field.

Trust - We work on a basis of mutual trust within our company and with our clients.

Diversification - We diversify our risks with regard to the products.

Constant Development / activeness - We constantly improve customer service, employee professionalism and shareholder satisfaction.

Partnership - We are flexible in our contact with our clients. Our priority is to initiate and continue long term co-operation.

We embrace such attributes as agility, innovation, high performance and discipline that, in combination with our values, will help us realize our vision.

Code of business conduct

AzRe's policy is, and always has been, to comply with all applicable laws and regulations wherever it does its business. AzRe is also committed to continuously strive to conduct business with the highest ethical and professional standards. We are committed to the principles of honesty, integrity and fairness in everything that we do. This is not just because it is a positive reflection on the company and its employees, nor because our clients expect no less, but because this is quite simply the right thing to do. The Code applies to all AzRe employees, regardless of position or level, in all operating divisions and in all businesses. All of our employees are guided to the highest standards of honesty, integrity and respect for the law.

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