Premiums for compulsory insurance approach voluntary insurance ones. Their annual growth by 1 November was 12.9%, while on voluntary types - 2.9%.
The press secretary of the Association of Insurers of Azerbaijan (AIA) Vafa Rustamova told Turan in January-October awards for voluntary insurance amounted to 236.1 million manats (62.3% of the total). Compulsory types collected 142.8 million manats.
On the contrary payments under voluntary types grew by + 7.3% with the aggregate amount of 103.8 million manats and 74.1% of the total payments. Payments for compulsory insurance increased by 4.6% to 36.2 million AZN.
Recall, the total premiums of insurers by November 1 totaled 378.9 million AZN with payments of 140 million AZN. --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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