Endowment life insurance burst into the top three - local insurers collected 41 million 995.2 thousand. Yet traditionally among voluntary insurance in January-July there was leading health insurance (VHI) in which it collected 46 million 445.7 thousand manats of premiums (16.4% of the segment). The reason for this is in many corporate contracts. This segment though is under voluntary types, the insured do not represent amount and kinds of services reflected in contracts.
According to the State Insurance Supervision Service, total premiums in the voluntary are 177 million 537.55 thousand manats. The descended through the Central Bank longtime leader - Hull car insurance is 18.42 million AZN. Property insurance against fire and other risks is 18.14 million manats. Insurers of aircraft received 10.56 million manats, cargo insurance replenished the treasury at 7.07 million manats, insurance of civil liability of owners of air transport equipment - 3.4 million AZN, and other items are behind.
During the period voluntary insurance payments amounted to 79.6 million manats (+ 21.5% as of 1 August last year).
All 26 insurance companies by August 1 collected 283.15 million (+31.4 million to the same date last year). By August 1, they collectively paid 104.79 million manats. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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