From January to November, the country's insurance market collected total 356 million manat (+ 5.4% against November 1 of the previous year), more than half (51%) of which accounted for the top five.
According to the report of Azerbaijan Insurers Association, the traditional leader is the company Pasha Sigorta with the result of 45.6 million manat. Following is a state commercial structure Azersigorta – 37.2 mln. AZN, PashaHayatSigorta - 35.1 million manat, AteshgahHayatSigorta - 32.6 million manat and AzSigorta – 30.7 million AZN.
Less than 1 mln. manat is on the account at 6 companies and 11 market participants have collected more than 10 mln. manat. Total in the country there are 28 insurers.
Cumulative disbursements totaled 131.4 million manat (+ 32.8% to November 1 last year), which means 36.9% ratio to premiums - more than 10 months last year (29.3%).
Leader in terms of payments is also PashaSigorta (22.7 mln. AZN). The top five are AteshgahHayatSigorta (21.6 mln. AZN), Ateshgah (12.2 mln. AZN), Azersigorta (10.8 mln. AZN) and AXA-Mbask (8.7 mln. AZN). The share of the mentioned companies accounted for 58% of all payments by November 1. --17D-
Economics
-
But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
-
Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
-
A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
-
The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
Leave a review