Azerbaijan's insurance market grows by just over 2%

6 April 2019 12:00 (UTC+04:00)

By  Trend

In January-February 2019, Azerbaijani insurance companies collected premiums worth 132.82 million manats, which is 2.05 percent more compared to the same period of 2018, Trend reports referring to the Financial Market Supervisory Authority of Azerbaijan (FIMSA).

Payments to the insurance companies during the same period amounted to 33.12 million manats, which is almost 18.2 percent less compared to the same period last year.

According to the report, 78.3 percent (103.95 million manats) of all fees in the market fell on voluntary insurance, while 21.7 percent (28.87 million manats) on compulsory. As it comes to the payments, the share of voluntary insurance amounted to 64.4 percent (21.34 million manats), while compulsory insurance accounted for only 35.6 percent (11.78 million manats) of payments.

There are 21 insurance companies in Azerbaijan.

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