Insurance market to increase up to 7% in Azerbaijan in 2014
Baku, Azerbaijan, Nov. 18
Around 28 insurance companies operating in Azerbaijan collected premiums worth 356 million AZN in January-October 2014 or by 5.4 percent (18.3 million AZN) more than in the same period of last year, the head of the Azerbaijan Insurers Association Orhan Bayramov said at a press conference Nov. 18.
Bayramov said that the market growth is expected to be 6-7 percent by late 2014.
The companies made insurance payments worth 131.4 million AZN in the reporting period, which is 32.8 percent (32.4 million AZN) more than in January-October last year.
Around 36.9 AZN payments account for every 100 AZN of the collected insurance premiums. This index amounted to 29.3 AZN in January-October 2013.
The official exchange rate is 0.7845 AZN/USD Nov. 18.
edited by CN