Baku, Azerbaijan, Mar. 24
By Anvar Mammadov – Trend:
Azerbaijan’s insurance companies collected 81.44 million manats (1.7202 AZN/USD on Mar. 24) on voluntary types of insurance in January-February 2017 that is by 1.7 percent less than in the same period of 2016, said the country’s Financial Market Supervisory Authority (FIMSA).
Voluntary types of insurance accounted for 78.5 percent of collections in the country’s insurance market and the remaining part (21.5 percent or 22.36 million manats) accounted for compulsory types of insurance, the volume of which decreased by 19 percent during the year.
Meanwhile, 81.9 percent of insurance payments or 35.91 million manats (growth by 11.5 percent during the year) accounted for voluntary types of insurance and 18.1 percent or 7.95 million manats (growth by five percent during the year) accounted for compulsory types of insurance, according to FIMSA.
One reinsurance and 21 insurance companies operate in Azerbaijan.