Baku, Azerbaijan, May 2
By Anvar Mammadov – Trend:
Azerbaijani insurance companies collected 111.91 million manats on voluntary types of insurance in January-March 2017, 4.2 percent more than in January-March 2016, said the Financial Market Supervisory Authority (FIMSA).
Some 74.3 percent of premiums accounted for voluntary types of insurance and the remaining part – 25.7 percent or 38.77 million manats – accounted for compulsory types of insurance, the volume of which decreased by 13.8 percent for the year.
Meanwhile, 78.5 percent of payment of claims (47.34 million manats, a growth by 15.6 percent for the year) accounted for voluntary types of insurance and 21.5 percent or 12.95 million manats (a growth by 11 percent for the year) accounted for compulsory types of insurance, according to FIMSA.
Azerbaijan has one reinsurance and 21 insurance companies.