More than half of premiums (52.8%) of the insurance company AzSigorta in January raised by civil liability insurance of vehicle owners (CTP). With total premiums 2 million 342.71 thousand manats this species has reached 1 million 238.8 thousand manats, and the trend will continue in the near future.
For all types of voluntary collected less than the CTP - 838.75 thousand manats, while two-thirds of the previous year were just for voluntary positions. Leading position in this segment has traditionally held cargo insurance - 586.15 thousand manats. In the second place is Hull car insurance - 95.39 thsd manats. In the third place there is property insurance against fire and other risks - 95.14 thsd manats. The insurance industry of water transport collected 1.61 thsd AZN, and general liability - 20.99 thsd manats.
Voluntary health insurance and accident insurance brought 23.8 thousand manats and AZN 8.89 thsd, respectively, and foreign travel insurance brought 1.05 thsd AZN.
The civil liability of vehicle owners brought the company 42.79 thsd manats.
Compulsory insurance in general (AZN 1,503,960), as a whole, was 64.2% of the total financial "muscle" of the company. We have talked about CTP above. Property insurance collected 252.53 thousand manats, and liability insurance for property owners collected 12.63 thousand manats.
In January, the company produced 553.95 thousand manats of total insurance payments. Of them, according to the new trends, 31.6% (AZN 174.94 thsd) fell on voluntary insurance.
Insurance company AzSigorta's license to operate was issued in November 2006. The shareholder of AzSigorta is a single individual.
The authorized capital of the company is 19 million 859.72 thousand manats.
The company has a license to provide insurance on 28 items, 24 of which are voluntary types and 4 are obligatory ones.
It has 6 branches in the country. - 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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