Azerbaijan Insurance Association strengthens ties with leading Japanese firms

The Azerbaijan Insurers Association (ASA) has begun collaboration with prestigious Japanese insurance companies.

At ASA's initiative and with its support, a delegation of executives from life and non-life insurance companies visited Tokyo. The purpose of the visit was to explore innovative technologies, digital solutions, and artificial intelligence models successfully implemented by leading Japanese insurance companies, Caliber.Az reports, citing ASA.

During the trip, the delegation held meetings with representatives of such prominent companies as Ichinen Holdings Co., Ltd., PricewaterhouseCoopers (PwC), Aioi Nissay Dowa Insurance Co., Ltd., SOMPO Holdings Inc., Dai-ichi Life Insurance Company, and The Toa Reinsurance Company.

This provided an opportunity to view Japan's cutting-edge insurance practices and discuss prospects for further collaboration.

A special focus was placed on a business meeting with Toyonari Sasaki, the head of the Japan Life Insurance Companies Association and a board member of the Global Federation of Insurance Associations (GFIA), which includes ASA. 

The meeting with association representatives revolved around the future development of bilateral relations and strengthening cooperation. 

Earlier, Azerbaijani Deputy Foreign Minister Elnur Mammadov met with Masaki Ishikawa, Special Representative of Japan’s Ministry of Foreign Affairs for Central Asia, the Caucasus, and GUAM, to explore ways to deepen cooperation between their nations.

Discussions covered a wide range of topics, including expanding trade and economic ties, with particular focus on the industrial and energy sectors. Both sides also highlighted the significance of humanitarian cooperation and the role of key platforms like the State Commission for Economic Cooperation between Azerbaijan and Japan and the Japan-Azerbaijan Economic Committee. They agreed on the importance of holding a joint meeting to further these efforts. 

Mammadov provided insights into Azerbaijan's efforts to foster long-term peace in the region. He detailed ongoing challenges, such as landmine threats in territories liberated from occupation, as well as ambitious rehabilitation and reconstruction initiatives in the Karabakh and East Zangezur economic regions. The meeting underscored a mutual commitment to strengthening bilateral relations and pursuing collaborative opportunities across various fields.

By Naila Huseynova