Stagnation in the Hull car insurance is observed for the first time. Last year the premium growth (56.86 million AZN with payments of 27.96 million manats) compared to the results in 2012 (56.7 million AZN with payments of 22.84 million manats) was 0.28%.
This stagnation is difference in comparison with the 20.9% between 2012 and 2011, when it was collected 44.86 million manat. Traditionally, growth in the range of 20% was observed in the segment of Hull in 1998, and now the pace has slowed down. The reason for this was the saturation of the local car market, although last year Azerbaijan imported 104 000 plus cars of different brands and classes.
According to the chairman of Azerbaijan Insurers Association Orkhan Bayramov, this year too, we should not expect activity on the background of the new rules on the issuance of bank loans. Stagnation will not affect the volume and timeliness of payments in proven cases of accidents and other damage to cars. - 17D-
Economics
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In a strategic move to bolster mechanisms against financial crimes and terrorism financing, Azerbaijan's Deputy Prime Minister, Samir Sharifov, has been appointed as the head of the newly restructured Coordinating Council on Counter-Terrorism Financing and Other Financial Crimes.
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The Chairman of Azerbaijan Railways CJSC, Rovshan Rustamov, and the head of Iranian Railways, Jabbar Ali Zakeri Sardrudi, convened in Tehran during the Joint Azerbaijani–Iranian Intergovernmental Commission meeting to bolster cooperation on the Astara terminals, key nodes in the International North-South Transport Corridor (INSTC). The talks centered on enhancing the operational efficiency and strategic significance of these terminals to facilitate growing cargo volumes between the two nations.
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Azerbaijan is accelerating its transition to green energy through the coordinated efforts of its "Green Energy Zone" task force, which recently held its latest hybrid meeting to review progress and outline future priorities. The Ministry of Energy, reporting on Wednesday’s session, emphasized the task force's central role in implementing the 2022–2026 Socio-Economic Development Strategy, a cornerstone of Azerbaijan’s ambitions for sustainable growth.
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AzerGold, Azerbaijan’s state-owned mining company, is pursuing opportunities for strategic collaboration with Turkish firms in Africa as part of its efforts to expand its presence in the global mining sector. Recent talks between Zakir Ibrahimov, Chairman of the Board of AzerGold CJSC, and Şebnem Cenk, Head of the West and Central Africa Department at Turkey's Ministry of Foreign Affairs, highlighted the potential for a mutually beneficial partnership.
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