Baku, Azerbaijan, July 6
By Anvar Mammadov – Trend:
Azerbaijani insurance companies collected 172.65 million manats on voluntary types of insurance in January-May 2017, which is 14.4 percent more than in the same period of 2016, said the Financial Market Supervisory Authority (FIMSA).
Some 71.9 percent of premiums accounted for voluntary types of insurance and the remaining part – 28.1 percent or 67.47 million manats – accounted for compulsory types of insurance, the volume of which decreased by 26 percent for the year.
Meanwhile, 77.6 percent of payment of claims (75.93 million manats, a growth by 14 percent for the year) accounted for voluntary types of insurance and 22.4 percent or 21.97 million manats (a growth by 4.5 percent for the year) accounted for compulsory types of insurance, according to FIMSA.
Azerbaijan has one reinsurance and 21 insurance companies.
(1.7022 manats = $1 on July 6)