Azerbaijan’s insurance market maintains growth ahead of neighboring countries

In January-November 2018, Azerbaijani insurance companies collected premiums for 663.9 million manats, which is by 31.67 percent more than the same period of 2017, Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA) Dec. 20.

The insurance companies’ payments during the reported period amounted to 224.1 million manats, which is 3 percent less than in January-November 2017.

According to the report, 73.1 percent (485.32 million manats) of all fees in the market accounted for voluntary insurance, 26.9 percent (178.57 million manats) for mandatory. As for the total volume of payments, the share of voluntary insurance made up 72.5 percent (162.4 million manats), and compulsory insurance – 27.5 percent (61.7 million manats).

Twenty one insurance companies operate in Azerbaijan.

( 1 USD = 1.7 AZN on Dec. 20)

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