Azerbaijan’s insurance market resumes growth
Baku, Azerbaijan, Sept. 25
By Anvar Mammadov – Trend:
Azerbaijan’s insurance companies collected insurance premiums in the amount of 368.92 million manats in January-August 2017 that is 3.6 percent more than in the same period of 2016, says a report of Financial Market Supervisory Authority (FIMSA), issued Sept. 25.
During the period, payment of insurance claims totaled 167.06 million manats that is 22.1 percent more than in the same period of 2016.
Premiums on voluntary types of insurance increased by 11.7 percent – up to 252.98 million manats, while the payment of claims rose by 30.5 percent – up to 130.75 million manats.
The companies’ premiums on compulsory types of insurance decreased by 10.5 percent and amounted to almost 115.94 million manats, and payment of claims decreased by 0.7 percent – to 36.31 million manats.
Twenty-two insurance companies operate in Azerbaijan.