Baku, Azerbaijan, Mar. 24
By Anvar Mammadov - Trend:
Azerbaijan’s life insurance market was 20.32 million manats in January-February 2017, which is 7.6 percent less that in the same period of 2016, the Financial Market Supervisory Authority (FIMSA) said in a report.
Three companies – PASHA Life, Ateshgah Life and Qala Life – have licenses for rendering life insurance services in Azerbaijan.
Specific weight of these companies’ premiums in total premiums collected by insurance companies in Azerbaijan was 19.6 percent in the reporting period.
In January-February 2017, payment of claims by these companies on all types of life insurance amounted to 26.24 million manats or 59.8 percent of all payments in the market (an increase by 31.1 percent in a year).
(1.7202 manats = $1 on Mar. 24)