During 10 months of 2016 25 insurance companies collected AZN 420 million of insurance premiums, according to the Financial Markets Supervision House (FMSH). It is AZN 41 million or 11% more than in the same period last year.
Insurance payments amounted to 191 million manat, which is 36% more in comparison with the same period of 2015.
For 10 months of the current year, voluntary insurance fees increased by 15%, and payment increased by 38%.
The fees on compulsory insurance increased by 4%, and payments increased by 30% and amounted to respectively 148 and 47 million AZN.
Note that according to FMSH, the top three for the insurance fee includes OJSC Pasha Sigorta (37 million 687 thousand 68 manat), Pasha Heyat Sigorta (66 million 981 thousand 824 AZN), and Azersigorta (37 million 999 thousand 56 manat).
The top three for the insurance payment looks like this: Pasha Sigorta (37 million 687 thousand 69 manat), Pasha Heyat Sigorta (32 million 521 thousand 268 manat), and Ateshgah Heyat Sigorta (23 million 347 thousand 904 manat). -----71D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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