The total premiums of AXAMbask last year amounted to 18 million 316.14 thousand manats (minus 4.3% to 2014).
On the voluntary insurance it collected 48.2%, or 8 million 830.27 thousand manats, which is a result of its membership in the Bureau of Compulsory Insurance. In this segment, more premiums were on Hull car insurance - 3 million 391.24 thousand manats, on voluntary medical insurance - 2 million 218.69 thousand manats, on property insurance against fire - 1 million 524.12 thousand manats. Other positions are insurance against accidents - 416.56 thousand manats and cargo insurance - 359.73 thousand manats.
On compulsory types of insurance collected for the year was 9 million 485.87 thousand manats, most of which came in the CTP.
During the reporting period the company paid on insured events 10 million 689.93 thousand manats (minus 0.3% to 2014).
JSC AXAMbask with registered capital of 19 million 733 thousand 738 manats was established in 1992, its sole shareholder is Spanish AXA Seguros Generales, SA, DeSegurosYReaseguros (subsidiary of the French AXA). - 17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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