Shusha: The first Assembly of the Turkic World Insurance Union is set to take place on September 14 in Shusha, Azerbaijan. This significant event is being strategically supported by the Central Bank of Azerbaijan and organized by the Azerbaijan Insurers Association. The Organization of Turkic States is also participating in this assembly, as reported by ASA to APA-Economics.

According to Azeri-Press News Agency, the assembly will see attendance from state officials, financial regulators, and insurance associations from various Turkic states, including Azerbaijan, Kazakhstan, Kyrgyzstan, Turkiye, Uzbekistan, Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus. Leaders from the Organization of Turkic States will also be present. The event will kick off with two separate discussion panels featuring financial regulators and insurance associations of the participating Turkic states. A key highlight of the assembly will be the signing of a “Proclamation Document,” which aims to reform the Turkic World Insurance Union in alignment with the goals and principles of the Organization of Turkic States.

The Turkic World Insurance Union was originally established on May 24, 2022, through a joint agreement initiated by the insurance associations of Azerbaijan and Turkey. The founding involved insurance associations from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkiye, and Uzbekistan, convening in Istanbul. Subsequently, Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus joined the Union as observer organizations.

The inaugural assembly in Azerbaijan follows the “Roadmap” of the Union, which dictates that the event’s organization rotates in alphabetical order among member states.