Azerbaijan’s insurance companies collected premiums worth 82.76 million manats in January 2018 that is by 17.02 percent more than in the same period last year, according to a report of the country’s Financial Market Supervisory Authority (FIMSA).
Payment of claims amounted to 22.99 million manats in the period that is by 14.2 percent less than in January 2017.
According to the report, 86.8 percent of all premiums on the market accounted for voluntary insurance, 13.2 percent – for compulsory insurance.
The share of voluntary insurance on payment of claims stood at 78.3 percent, and the share of compulsory insurance – 21.7 percent.
Voluntary insurance premiums totaled 71.86 million manats, and payment of claims amounted to 17.99 million manats.
Meanwhile, compulsory insurance premiums amounted to 10.9 million manats, and payment of claims totaled nearly 5 million manats.
Twenty-one insurance companies operate in Azerbaijan.
(1.7001 manats = 1 USD on Feb. 22)
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