The insurance company AXA Mbask became the first one in the market of Azerbaijan to gain access to the international system Green Card.
According to the information of the Bureau of Compulsory Insurance (BCI), the right to provide network services on the liability insurance of motor vehicle owners was received the day before.
This is done in accordance with article 50-2 of the law "On compulsory types of insurance", which states that for the provision of services within CTP companies have to be in the registry Green Card.
The insurance company AXA Mbask with registered capital of 19 733 738 manats has been operating since 1992. Its sole shareholder is AXA Seguros Generales, SA, De Seguros Y Reaseguros (Spain). In January-October, the company's premiums amounted to 15.14 million AZN with payments of 9.14 million AZN.
Recall from January 1, Azerbaijan will become a transit member of the Southeast Group Green Card valid for 10 years. The country's representative in the system is BCI. ---17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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