Baku, Azerbaijan, May 31
By Anvar Mammadov – Trend:
Azerbaijani insurance companies collected 140.77 million manats on voluntary types of insurance in January-April 2017, 9.6 percent more than in the same period of 2016, said the Financial Market Supervisory Authority (FIMSA).
Some 72.5 percent of premiums accounted for voluntary types of insurance and the remaining part – 27.5 percent or 53.41 million manats – accounted for compulsory types of insurance, the volume of which decreased by 16.9 percent for the year.
Meanwhile, 76.7 percent of payment of claims (57.75 million manats, a growth by 12.2 percent for the year) accounted for voluntary types of insurance and 23.3 percent or 17.57 million manats (a growth by 8.9 percent for the year) accounted for compulsory types of insurance, according to FIMSA.
Azerbaijan has one reinsurance and 21 insurance companies.
(1.702 manats = $1 on May 31)