News
20.05.2010
Pasha Insurance finished the renewal process of the strategic energy projects policies
Pasha Insurance continues its services on the insurance of BP strategic energy risks under the projects “Azeri-Chirag-Guneshli” and “Shah Deniz”, as well as risks related to operation of Baku-Tbilisi-Ceyhan and South-Caucasus pipelines. In the frame of these projects, Pasha Insurance jointly with foreign partners has finished the renewal process of the insurance policies on the above risks for 2010-2011, covering operational risks, liability risk and risks related to terrorism, and the pipeline property.
“Decision to appoint Pasha Insurance as a local insurance partner on strategic projects operated by BP was taken in 2008, based on the results of comprehensive analysis of operational procedures, qualification of personnel and financial performance of our company. Analysis was carried out by BP risk management specialists, with participation of Statoil experts and US brokerage firm Marsh. Based on results of first two years of operation Pasha Insurance received high estimate of BP managers, and currently we and other participants of the process - BP, as operator of the projects, Marsh brokerage firm and leading international reinsurance companies – have completed the process of preparation, agreement and signing policies and insurance documents for the next year” - commented Nofal Rzayev, Chief Executive Officer of Pasha Insurance.
Pasha Insurance, a member of Pasha Holding, provides its corporate and individual clients 31 types of insurance. According capitalization, Pasha Insurance with the authorization capital of 20 mln AZN and the current assets of 28 mln AZN enters into the leading top three insurers of the country, at the same time keeping one of the highest profitability indicators of the business in insurance sector of the country. Since 2007, Pasha Insurance has successfully passed the ISO 9001:2000 Quality Management System Certification process by British Agency of Moody International Certification Services. Pasha Insurance is involved in the UN Global Compact Initiative in the areas of human rights, the environment and anti-corruption since 2009.
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20.05.2010 Pasha Insurance finished the renewal process of the strategic energy projects policies
Pasha Insurance continues its services on the insurance of BP strategic energy risks under the projects “Azeri-Chirag-Guneshli” and “Shah Deniz”, as well as risks related .....
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