Insurance companies - members of the Bureau of Compulsory Insurance in July collected on compulsory insurance of civil liability of vehicle owners to third parties (CTP) AZN 5.6 million of premiums (+7.2% compared with the June of that and - 6.7% compared to July 2012).
According to the press release from the Bureau, this amount was collected on the basis of concluded insurance contracts 72,800 (+ 5.9 and - 1.9%, respectively). Of these, 23 100 were transit insurance policies and foreign vehicles in transit passing through Azerbaijan. Previously, the contract period was 1 month with the adoption of amendments to the law on compulsory insurance has two options - from 1 month to 1 year.
In addition, in July, the average size of the premium under one contract of 77 manats. - 17D-
Economics
-
The State Oil Company of Azerbaijan Republic's shipping division, Azerbaijan Caspian Shipping Company (ASCO), has integrated a new Aframax tanker into its fleet, as part of its ongoing fleet expansion strategy, the company announced on Monday.
-
The State Oil Company of Azerbaijan (SOCAR) is among the participants in an international tender for the purchase of shares in Lukoil Neftochim Burgas JSC. The main asset of the company is the sole large refinery in Burgas, Bulgaria, according to Turan.
-
In 2024, Azerbaijan witnessed significant growth among rapidly expanding enterprises, particularly in the booming non-oil sector. As the government prioritizes economic diversification, companies in industries such as mining, logistics, agriculture, and manufacturing have emerged as key drivers of economic progress.
-
Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.
Leave a review