The State Insurance Supervision Service of the Ministry of Finance released data (http://sigorta.maliyye.gov.az) on the performance of the insurance market by October 1.
According to official figures, the Bureau of Compulsory Insurance raised 80 million 670.24 thousand manats in January-September (+23.8% as of 1 October last year).
Most of the charges (58 million 297.93 thousand manats) fell on insurance of civil liability of vehicle owners to third parties or CTP. This was followed by mandatory property insurance of natural persons - 21 million 981.82 thousand manats. A much smaller proportion (286.08 thousand manats) is observed in civil liability insurance of realty operation (minus 7.5% for the year) and in the insurance of passengers - 104.4 thousand manats (minus 11.9%).
In January-September a total of 25 million 263.86 thousand manats was paid (+ 11.6%). Almost all of that (24 million 474.84 thousand manats) was in CTP, while 788.12 thousand mantas was in the insurance of real estate of individuals (minus 48.7%).
The law "On compulsory types of insurance" covers 4 types of general insurance and insurance against accidents and illnesses in the workplace. Members of the Bureau of Compulsory Insurance established under the said law are 15 insurance companies. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review