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Azerbaijan's insurance market grows

Business Materials 21 September 2018 19:52
In January-August 2018, Azerbaijani insurance companies collected premiums for 517 million manats, which is by 40 percent more than the same period last year
Azerbaijan's insurance market grows

Baku, Azerbaijan, Sept. 21

By Azad Hasanli - Trend:

In January-August 2018, Azerbaijani insurance companies collected premiums for 517 million manats, which is by 40 percent more than the same period last year, according to the report of Azerbaijan’s Financial Market Supervisory Authority (FIMSA) Sept. 21.

The insurance companies' payments during the reported period amounted to 169 million manats, which is 1.2 percent more than in January-August 2017.

According to the report, 72 percent (374.7 million manats) of all fees in the market accounted for voluntary insurance, 28 percent (142.3 million manats) for mandatory. As for the total volume of payments, the share of voluntary insurance made up 74 percent (124.6 million manats), and compulsory insurance – 26 percent (43.9 million manats).

21 insurance companies operate in Azerbaijan.

(1.7 manats = 1 USD on Sept. 21)

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Follow the author on Twitter: @AzadHasanli

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