Azerbaijan's insurance market growing

By  Trend

In January-September 2018, Azerbaijani insurance companies collected premiums for 568.5 million manats, which is by 37.2 percent more than the same period of 2017, according to the report of Azerbaijan’s Financial Market Supervisory Authority (FIMSA) Oct. 29.

The insurance companies' payments during the reported period amounted to 186.9 million manats, which is 0.9 percent less than in January-September 2017.

According to the report, 73 percent (414.9 million manats) of all fees in the market accounted for voluntary insurance, 27 percent (153.6 million manats) for mandatory. As for the total volume of payments, the share of voluntary insurance made up 73.5 percent (137.3 million manats), and compulsory insurance – 26.5 percent (49.6 million manats).

Twenty one insurance companies operate in Azerbaijan.

($1 = 1.7 AZN on Oct. 29)