Members of the local Bureau of Compulsory Insurance from January to June collected 54 million 558.04 thousand manat (+ 40.2% to July 1 of the previous year).
According to the State Insurance Supervision Service of the Ministry of Finance, these premiums are collected in the framework of compulsory insurance of civil liability of motorists (CTP), property insurance, civil liability in the operation of real estate and passenger insurance. These four items are subject to the law "On compulsory types of insurance".
CTP collected 36 million 57.33 thousand (19.7%), compulsory insurance of immovable property belonging to individuals - 18 million 183.54 thousand manat (an increase of 2.1 times). Another 235.58 thousand manat was collected on civil liability insurance while exploiting real estate (+6%), insurance of passengers - 81.6 thousand manat (minus 2.5%).
Total payments under these types of insurance amounted to 15 million 815.98 thousand manat (+11%), of which nearly all payments (15 million 359.55 thousand manat) was on CTP, and 455.53 thousand manat - on insurance of real estate.
The Bureau of Compulsory Insurance was established in the framework of the law "On compulsory types of insurance". The members of the Bureau are 15 insurance companies, 12 of them are eligible for services under the said law. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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