During the first half of 2016 twenty five insurance companies calculated the amount of insurance charges on 283 300 000. Manats. This figure compared with the same period last year is by 42.950 million manat more, 17.7%, reads the report of the Chamber of Control for the financial markets. During this period, insurers made insurance payments by 101.4 million manat, that in comparison with 2015 more than 10.1%.
Positive dynamics is also observed for voluntary and compulsory insurance. Thus, during the period from January to June for the types of voluntary insurance charges increased by 15.54%, and amounted to 177.1 million manat, and payments increased by 4.93% , and amounted to 75.1 million manats.
In the life insurance market fees increased by 35%, and payments by 1.2%. On the market of another insurance fee has increased by 7.5%, payment of a 5% down. During the reporting period in the insurance market for every collected 100 manats was made the payment in the amount of 35.5 manats. This figure for the same period of last year was 38 manat.
The following table provides details of insurance charges and insurance payments on insurance companies and insurance classes for January-June 2016. For more information, media may contact press@fmsa.az.
Information on counted insurance accruals and insurance payments for January-June 2016
(based on operating data) (in manats)
|
№ |
Name of insurance organization |
insurance accruals |
insurance payments |
|
1 |
“A-Qroup Sığorta Şirkəti” Открытое Акционерное Общество (ОАО) |
2,434,943.04 |
4,142,378.13 |
|
2 |
“AXA MBASK” ОАО |
11,390,966.11 |
4,195,580.89 |
|
3 |
“Alfa Sığorta” ОАО |
1,019,840.50 |
654,516.46 |
|
4 |
“AtaSığorta” ОАО |
4,776,151.24 |
1,594,885.37 |
|
5 |
“Atəşgah Həyat” Sığorta Şirkəti ОАО |
19,956,368.71 |
16,679,922.00 |
|
6 |
“Atəşgah” Sığorta Şirkəti ОАО |
21,328,042.32 |
7,319,650.96 |
|
7 |
“AzSığorta” ОАО |
10,591,063.26 |
3,358,809.91 |
|
8 |
State insurance commercial company of the Azerbaijan republic |
32,696,541.00 |
8,940,242.00 |
|
9 |
“Azərbaycan Sənaye Sığorta” ОАО |
2,702,307.24 |
1,587,423.05 |
|
10 |
“Azərqarant Sığorta” ОАО |
195,444.31 |
655.82 |
|
11 |
“Bakı Sığorta” ОАО |
627,330.76 |
400,927.62 |
|
12 |
“Başak İnam Sığorta Şirkəti” ОАО |
417,884.84 |
82,184.85 |
|
13 |
“Beynəlxalq Sığorta Şirkəti” ОАО |
3,516,608.20 |
1,728,611.29 |
|
14 |
“Buta Sığorta” ОАО |
593,950.50 |
913,332.90 |
|
15 |
“Günay Sığorta” ОАО |
1,347,409.50 |
14,032.86 |
|
16 |
“Mega Sığorta” ОАО |
13,803,271.64 |
1,333,005.96 |
|
17 |
“Paşa Həyat Sığorta” ОАО |
45,029,690.57 |
10,661,883.21 |
|
18 |
“Paşa Sığorta” Şirkəti ОАО |
64,610,892.59 |
20,849,758.25 |
|
19 |
“Qala Həyat” Sığorta Şirkəti ОАО |
16,947,738.00 |
9,423,532.64 |
|
20 |
“Rəvan Sığorta” ОАО |
546,218.84 |
432,320.93 |
|
21 |
“Standard Insurance” Sığorta Şirkəti ОАО |
12,523,236.69 |
4,200,102.27 |
|
22 |
“Xalq Sığorta” ОАО |
4,745,215.83 |
2,804,122.11 |
|
23 |
“Qala Sığorta” ОАО |
3,447,601.00 |
0.00 |
|
24 |
“İPƏK YOLU SIĞORTA” ASC |
10,055,497.55 |
39,512.37 |
|
25 |
“Əmrah Sığorta” ОАО |
44,551.68 |
63,088.28 |
|
|
TOTAL |
285,348,765.92 |
101,420,480.13 |
Information about the calculated insurance accruals and insurance payments for January-June 2016
(on the basis of operational information) (in manats)
|
Insurance classification |
insurance accruals |
insurance payments |
|
On voluntarily insurance - total : |
177,136,487.87 |
75,145,640.81 |
|
Including: |
|
|
|
Life insurance |
60,606,742.68 |
35,097,534.20 |
|
including: |
|
|
|
Insurance from death in life |
15,570,472.00 |
1,516,165.24 |
|
Life insurance |
45,005,148.99 |
33,581,368.96 |
|
Insurance annuity |
0.00 |
0.00 |
|
Disability insurance |
42,516.57 |
0.00 |
|
Insurance of incurable diseases |
-11,394.88 |
0.00 |
|
Not life- other insurance |
116,529,745.19 |
40,048,106.61 |
|
Including : |
|
|
|
Personal insurance |
55,494,147.23 |
30,872,544.22 |
|
Including : |
|
|
|
Insurance of personal accident and sickness |
2,301,312.58 |
502,380.03 |
|
Medical insurance |
52,028,895.88 |
30,239,407.46 |
|
Insurance of people leaving abroad |
1,163,938.77 |
130,756.73 |
|
Property insurance |
61,035,597.96 |
9,175,562.39 |
|
Including: |
|
|
|
Property insurance |
47,481,729.78 |
8,967,183.19 |
|
Including : |
|
|
|
Insurance of property against fire and other risks |
21,032,514.90 |
1,117,115.62 |
|
Insurance of cars |
11,373,023.98 |
7,471,878.80 |
|
Insurance of railway transport |
316,133.25 |
0.00 |
|
Insurance of air transport |
7,055,246.81 |
0.00 |
|
Insurance of water transport |
3,948,940.51 |
18000 |
|
Cargo insurance (transport) |
1,912,489.83 |
72,157.08 |
|
Insurance of harvest of agricultural plants |
414,797.53 |
0.00 |
|
Insurance of agricultural animals |
1,217,276.80 |
288,031.69 |
|
Other classes connected with property insurance |
211,306.17 |
0.00 |
|
including : |
|
|
|
insurance of fraud of workers |
211,306.17 |
0.00 |
|
Insurance of money and financial documents from falsification |
0.00 |
0.00 |
|
Insurance of title |
0.00 |
0.00 |
|
Insurance of civil activity |
13,550,847.89 |
176,914.85 |
|
Including: |
|
|
|
Civil liability insurance of vehicle owners |
985,852.93 |
44,938.20 |
|
Civil liability insurance of railway transport owners |
0.00 |
0.00 |
|
Civil liability insurance of air transport owners |
2,141,913.88 |
20,000.00 |
|
Civil liability insurance of water transport owners |
365,632.99 |
0.00 |
|
Insurance of civil liability of carriers |
23,786.32 |
11,871.27 |
|
Insurance of civil liability in civil-legal documents |
242,027.02 |
0.00 |
|
Insurance of professional liability |
1,556,675.51 |
0.00 |
|
Insurance of liability of employer |
249,013.14 |
3,160.84 |
|
Insurance of common civil liability |
7,985,946.10 |
96,944.54 |
|
Insurance of juridical expenses |
0.00 |
0.00 |
|
Insurance of credits |
3,020.29 |
31,464.35 |
|
Including: |
|
|
|
Insurance of credits |
3,020.29 |
31,464.35 |
|
Mortgage insurance |
0.00 |
0.00 |
|
Insurance of mixed financial risks |
0.00 |
0.00 |
|
Including : |
|
|
|
Insurance risk of falling market value of property |
0.00 |
0.00 |
|
risk insurance in connection with the work stoppage |
0.00 |
0.00 |
|
On compulsory insurance - total |
108,212,278.05 |
26,274,839.32 |
|
including: |
|
|
|
Life insurance |
21,327,054.60 |
1,667,803.65 |
|
including: |
|
|
|
Compulsory insurance of accidents at work and disability resulting from occupational diseases |
21,327,054.60 |
1,667,803.65 |
|
Life (other) insurance |
86,885,223.45 |
24,607,035.67 |
|
including : |
|
|
|
Compulsory insurance of civil liability of vehicle owners |
0.00 |
0.00 |
|
Compulsory insurance of passengers |
0.00 |
0.00 |
|
Compulsory environmental insurance |
0.00 |
0.00 |
|
Compulsory insurance against fire |
0.00 |
0.00 |
|
Compulsory insurance of MPs |
94,230.00 |
0.00 |
|
Insurance of medical personnel on AIDS |
0.00 |
0.00 |
|
Compulsory state personal insurance of military servicemen |
16,131,912.00 |
5,893,448.00 |
|
State compulsory personal insurance of employees of courts and law enforcement agencies |
10,755,313.00 |
546,958.00 |
|
Compulsory insurance of civil servants |
0.00 |
0.00 |
|
Compulsory insurance of diplomatic representatives |
0.00 |
0.00 |
|
Compulsory insurance of professional liability of auditors |
3,930.00 |
0.00 |
|
Compulsory insurance of immovable property |
16,758,403.98 |
720773.57 |
|
Compulsory insurance of civil liability in connection with the operation of real estate |
187,200.00 |
580 |
|
Compulsory insurance of civil liability of vehicle owners |
42,894,302.47 |
17445276.1 |
|
Compulsory private disaster insurance of passengers |
59,932.00 |
0.00 |
|
TOTAL |
285,348,765.92 |
101,420,480.13 |
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.
-
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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