BAKU, Azerbaijan, September 14. The Central
Bank of Azerbaijan (CBA) has been admitted as a member of the
United Nations Development Programme (UN DP) Sustainable Insurance
Forum (SIF).


This was announced in a statement published by the CBA.


"Through this membership, the Central Bank has gained the
opportunity to expand cooperation with insurance supervisors and
regulators from various countries, participate in the exchange of
international experience and knowledge, and be represented in the
forum's working groups and discussions. Consequently, the Central
Bank will be able to contribute to international initiatives aimed
at strengthening sustainability and resilience against climate
risks within the insurance sector, as well as expand opportunities
to apply advanced international practices to the development of the
country's insurance sector," the statement noted.


Established in 2016 through a UN initiative and with the support
of the International Association of Insurance Supervisors (IAIS),
the SIF is a global network bringing together 40 institutions
active in the field of insurance supervision and regulation.


The Forum strengthens international cooperation among
supervisory and regulatory bodies to support the sustainable
development of the insurance sector, fosters the exchange of
knowledge and experience, and supports the development and
implementation of new policy and regulatory approaches.







One of the SIF's primary objectives is to ensure the effective
management of climate risks and the integration of other
sustainability factors into the regulation and supervision
processes of insurance companies.


Currently, the SIF's 40 members regulate approximately 80% of
the global insurance market. The annual total insurance premiums of
the companies supervised by the forum's members exceed $6.3
trillion.


For the 2026–2027 period, the SIF has defined a set of strategic
priorities, taking into account the rapidly evolving approaches in
insurance supervision. These priorities are pursued through
targeted initiatives encompassing policy dialogue, capacity
building, and practical supervisory activities.