In January, during the crisis reduced the level of collection of premiums under life insurance. Thus, in comparison with the first month of last year the volume of services decreased by 38.15% - up to 8 million 174 thousand 301.98 manat.
The Azerbaijan Insurers Association (AIA) told Turan three specialized insurers provided 13% of the premiums of the local insurance market.
In January, the total payments of these companies amounted to 649 898.23 manat (minus 31.9%) with an extremely low ratio to premiums - 6.3%. On average, in Eastern Europe, the ratio is 30-40%.
Pasha Hayat Sigorta got 3 million 659.55 thousand manat with payments at the level of 221.34 thousand manat. At the second place is Ateshgah Hayat Sigorta - 2 million 756.08 thousand AZN with payments of 281.88 thousand AZN. And closes the top three Qala Hayat Sigorta - 1 million 758.67 thousand AZN with payments of 146.68 thousand AZN.
27 insurance companies have licenses in Azerbaijan. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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