TODAY.AZ / Business

Payments on Azerbaijan's insurance market significantly decline

08 May 2019 [11:00] - TODAY.AZ

By Trend

In January-March 2019, Azerbaijani insurance companies collected premiums worth 201.2 million manats, which is 4 percent more compared to the same period of 2018, Trendreports referring to the Financial Market Supervisory Authority of Azerbaijan (FIMSA).

Payments to the insurance companies during the same period amounted to 46.2 million manats, which is almost 30.5 percent less compared to the same period last year.

According to the report, 64.6 percent (130 million manats) of all fees in the market fell on voluntary insurance, while 35.4 percent (29.9 million manats) on compulsory insurance. As for the payments, the share of voluntary insurance amounted to 64.7 percent (71.2 million manats), while compulsory insurance accounted for only 35.3 percent (16.3 million manats) of payments.

There are 21 insurance companies in Azerbaijan.

(1 USD = 1.7 AZN on May 7)


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