Compulsory insurance of civil liability of vehicle owners (CTP) in the first quarter brought the French-Azerbaijani insurance company AXA Mbask 1 million 624.42 thousand manat (+ 15% to April 1 last year). In general, the contributions of this type of insurance provided more than a third (34.2%) of the total premiums.
According to the press release, the payments by the insurance company in January-March amounted to 1 million 64.54 thousand manat (+ 42%). It is again the leading position (37%) of the total payments.
AXA Mbask was established in 1992. The company's shareholders are AXA Seguros Generales SA, De Seguros Y Reaseguros (90.1369%) and one individual (9.8631%).
The registered capital is 14 million 233.32 thousand manat.-- 17D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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