Baku, Azerbaijan, Feb. 27
By Azad Hasanli – Trend:
Premiums collected by Azerbaijan’s insurance companies totaled 486.7 million manats in 2016 that is by 9.68 percent more than in 2015, the country’s Financial Market Supervisory Authority (FIMSA) said in a report Feb. 27.
Payments of claims by the Azerbaijani insurance companies reached 237.25 million manats in 2016 that is by 31.63 percent more than in 2015.
Premiums on voluntary insurance increased by 13.52 percent to 319 million manats and payments of claims – by 32.12 percent and amounted to 179.4 million manats.
The companies’ premiums on compulsory insurance increased by 3.01 percent and amounted to 166.8 million manats, while the payments of claims increased by 30.13 percent – to 57.8 million manats.
The country’s insurance companies paid 48.8 manats per each 100 manats of insurance premiums. In 2015, this indicator was 40.7 manats.
The official exchange rate is 1.7475 AZN/USD on Feb. 27.