Azerbaijani Insurance Market has Increased by 45%
Azerbaijan, Baku, 9 April /corr. Trend U.Ismaylova / Since 1995, the premiums of Azerbaijani insurance companies, over the past 12 years, have increased almost 45 times to 172mln in 2007.
The Chairman of Board of the large Azerbaijani insurance company MBASK, Jamil Melikov, said on 9 April that in 1995 the aggregate premiums of the Azerbaijani insurance companies totaled nearly $3.9mln. Since then, the number of insurance companies with $10mln premiums in the market has reached six.
At present, some 28 insurance and one re-insurance companies function in Azerbaijan. As a result of 2007, the gross amount of the insurance collections totaled AZN 147.2mln under payments of AZN 35.62mln. The top ten of the insurance companies as a result of 2007 includes the companies with the premiums from AZN 5mln to AZN 20mln.
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