Baku, Azerbaijan, Jan. 16
By Azad Hasanli – Trend:
Azerbaijan’s insurance companies collected premiums worth 556.87 million manats in 2017 that is by 14.56 percent more than in 2016, according to a report of the country’s Financial Market Supervisory Authority (FIMSA), issued Jan. 16.
Payment of claims amounted to 257.1 million manats in the period that is by almost 8.4 percent more than in 2016.
According to the report, 67.4 percent of all premiums on the market accounted for voluntary insurance, 32.6 percent – for compulsory insurance.
The share of voluntary insurance on payment of claims stood at 77.6 percent, and the share of compulsory insurance – 22.4 percent.
Voluntary insurance premiums totaled 375.23 million manats, and payment of claims amounted to 199.4 million manats.
Meanwhile, compulsory insurance premiums amounted to 181.6 million manats, and payment of claims totaled 57.68 million manats.
Twenty-one insurance companies operate in Azerbaijan.
(1.7001 AZN = 1 USD on Jan. 16)