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 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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