The Ministry of Finance published the balance of the total income and expenses of the insurance market of Azerbaijan in 2012. Net income amounted to 48.05 million manat. The result could be significant, if it had not become fashionable decline in net insurance reserves of 73.26 million manat.
Total basic income of insurers and reinsurers totaled 393.35 million manat, of which almost the entire amount came in premiums, 25.96 million - for investments.
Expenses amounted to 305.51 million manat, where, except in cases of direct payments (206.62 million) we could mention high costs of the proceedings - AZN 97.15 million. - 17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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