Azerbaijan’s insurance market grows

23 February 2019 13:28 (UTC+04:00)

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In January 2019, Azerbaijani insurance companies collected 88.2 million manats in premiums, which is 6.57 percent more than in the same period last year, Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA) Feb. 23.

The insurance companies' payments during the period amounted to 17.2 million manats, which is almost 25.2 percent less than in January 2018.

According to the report, 82.3 percent (72.6 million manats) of all fees in the market accounted for voluntary insurance, 17.7 percent (15.6 million manats) for compulsory insurance.

As for the payments, the share of voluntary insurance was 62.8 percent (10.8 million manats) and compulsory insurance – 37.2 percent (6.4 million manats).

Twenty-one insurance companies operate in Azerbaijan.

(1 USD = 1.7 AZN on Feb. 23)

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