Turkic world insurers sign landmark proclamation in Shusha

At the inaugural Assembly of the Turkic World Insurance Union held in Shusha, insurers from several countries signed a joint "Proclamation Document," marking a key step in regional insurance cooperation.

The document formalises the Union’s restructuring in line with the goals and principles of the Organisation of Turkic States (OTS), Caliber.Az reports, citing local media.

In addition to the five founding countries, the insurance associations of three other nations—Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus—will join the Union as observer organisations.

The Union’s primary objectives include fostering mutual exchange of expertise, personnel, and information among the insurance markets of member and observer states, systematically developing reinsurance networks, and promoting sustainable and stable growth across the insurance sectors of allied countries.

By Khagan Isayev