Insurance market increases almost 44pct in Azerbaijan
Baku, Azerbaijan, July 13
By Anvar Mammadov – Trend
The insurance companies operating in Azerbaijan collected premiums in the amount of 396.37 million manats in January-June 2018, which is 43.5 percent higher than in the same period last year, the Financial Markets Supervision Chamber said in a statement July 13.
Payments of the insurance companies for the same period amounted to 119.3 million manats, which is 4.1 percent less than in 1H2017.
Some 72.4 percent (286.84 million manats) of all charges on the market fell on voluntary insurance, 27.6 percent (109.53 million manats) on compulsory insurance. The share of voluntary insurance payments amounted to 73 percent (87.11 million manats), and compulsory insurance accounted for 27 percent (32.2 million manats) of all payments, the message says.
Currently, 21 insurance companies are functioning in Azerbaijan.
The official exchange rate as of July 13 is 1.7 AZN/USD.