In January-February, insurers collected 101.7 million manat of premiums (+ 11.1% against March 1 of last year).
According to the information of Azerbaijan Insurers Association (AIA), 27 companies in two months paid 24 million manat (+ 26.3%). This means that the increased share of payments to premiums - for every 100 manat there was 23.6 manat against 20.8 manat as of 1 March 2014. According to experts, this figure is pulled down by payments under the compulsory insurance of life, but according to statistics, awards in this segment decreased by 14%, while payments grew by 3.2 times.
In other segments the premiums increased by 19%, and the payments grew by 11%. Almost three-quarters (72%) of the local insurance market was formed by voluntary types. --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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