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Azerbaijan's insurance market grows

Finance Materials 28 November 2018 10:34
In January-October 2018, Azerbaijani insurance companies collected premiums for 617.2 million manats, which is by 33.4 percent more than the same period of 2017
Azerbaijan's insurance market grows

Baku, Azerbaijan, Nov. 28

By Taleh Mursagulov - Trend:

In January-October 2018, Azerbaijani insurance companies collected premiums for 617.2 million manats, which is by 33.4 percent more than the same period of 2017, according to the report of Azerbaijan’s Financial Market Supervisory Authority (FIMSA) Nov. 28.

The insurance companies' payments during the reported period amounted to 205.9 million manats, which is 0.6 percent more than in January-October 2017.

According to the report, 73 percent (450.8 million manats) of all fees in the market accounted for voluntary insurance, 27 percent (166.4 million manats) for mandatory. As for the total volume of payments, the share of voluntary insurance made up 72.7 percent (166.4 million manats), and compulsory insurance – 27.3 percent (56.2 million manats).

Twenty one insurance companies operate in Azerbaijan.

($1 = 1.7 AZN on Nov. 28)

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