Azerbaijani Insurance Market Up by 35% Since Early 2008

Business Materials 30 May 2008 17:07 (UTC +04:00)

Azerbaijan, Baku, 30 May / Trend corr. U.Ismayilova / The joint premiums of Azerbaijani insurance companies will reach AZN 200mln, Namig Khalilov, Head of the State Insurance Supervision Department of the Ministry of Finance of Azerbaijan, stated.

"The increase totaled 35% in the first quarter (Q1)," Khalilov said.

According to the Finance Ministry, as for January -March 2008, the premiums of insurance companies of Azerbaijan comprised AZN 50.80mln and payments AZN 35.62mln.

The increase in the market of Azerbaijan for 2007 made up 65%- with premiums AZN 147.2mln and payments AZN 35.62mln.

28 insurance and one re-insurance company have been operating in Azerbaijan. The most extend types of insurance are OSAGO and KASKO.

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