In October the Association of Insurers of Azerbaijan (AIA) intends to conduct "literacy courses" for those interested in agricultural insurance still believed disadvantaged and unpopular.
The structure of the Ministry of Finance has already started talks on this issue with the International Finance Corporation (IFC), the head of the AIA Orkhan Bayramov told reporters.
"The joint seminar is likely to be held by specialists of the World Bank," he said.
This high demand for this poorly studied segment will significantly increase the premium of insurance companies. Meanwhile, in January-August the current insurers collected premiums of 312,840,000 manats (+10.4% to 1 September of the previous year).
Disbursements during this period amounted to 116.16 million manats (+ 12.2%). That is, every 100 manats of premiums account for 37.1 manat of payments (as of September 1, 2014 it was 31 manats).
Orkhan Bayramov believes that the total volume of insurance premiums by 31 December for the first time will reach half a billion manat (+16.5% at the end of last year - 429.2 million).--17D-
Economics
-
Farmers in Azerbaijan must insure their barley, wheat, rice, and corn crops grown on lands exceeding 10 hectares to be eligible for agricultural subsidies, a government official stated during a recent briefing on updated subsidy rates.
-
Pakistan’s gas reserves, estimated at approximately 400 billion cubic meters, and annual production of about 30 billion cubic meters, are insufficient to address the "blue fuel" deficit in this densely populated country. Consequently, the government has identified meeting the country’s gas needs as a strategic priority.
-
The hospitality industry in Azerbaijan recorded significant growth in 2024, with the number of overnight stays in hotels and similar establishments rising by 25.1% year-on-year to 4.28 million, according to official data. This robust recovery highlights the increasing appeal of the sector to both domestic and international travelers, supported by improved infrastructure and the diversification of tourism offerings.
-
Azerbaijan's Agricultural Subsidy Council has set new requirements for the establishment of intensive orchards, including the installation of climate stations, according to Vugar Huseynov, head of the Ministry of Agriculture's press service.
Leave a review