Insurance Market Grew by 9.7%

In 2016, insurance companies’ fees totaled 486 million 74 thousand manat, according to the Financial Markets Supervision Authority (FIMSA).

According to the report, compared with 2015 it is 9.7% or 42 million 855 thousand manat more.

Insurance payments by companies during the reporting period increased by 31.63%, or 57 million 9 thousand manat, amounting to 237 million 250 thousand 616 manat.

At the same time the life insurance market grew by 26%.

30.2% or 146 million 538 thousand manat of insurance fees and 40% or AZN 94 million 979 thousand of insurance premiums fell on life insurance.

In 2016, 65.66% of insurance fees were voluntary, and 34.34% were mandatory.

Fees for voluntary insurance increased by 13.52%, or 37 million 974 thousand manat during the reporting period, reaching 318 million 944 thousand manat, and payments increased by 32.12%, or 43 million 623 thousand manat, reaching 179 million 435 thousand manat.

Mandatory insurance market grew by 3%. Mandatory insurance fees rose to 166 million 816 thousand manat (an increase of 4 million 881 thousand manat or 3.01%). Mandatory insurance payments increased by 13 million 386 thousand manat or 30.13%, to 57 million 815 thousand manat.    ------71D

Leave a review

Economics

Чего ждать после потери Авдеевки? - беседа с военно-политическим экспертом Олександром Мусиенко в "Çətin sual"



InvestPro Azerbaijan Baku & Turkiye Istanbul 2024 – two conferences in one shot


Əziz Bakı şəhəri sakini!

Siz də Qlobal İqlim Dəyişmələri ilə mübarizəyə öz töhfənizi verə bilərsiniz

Dear resident of Baku city!

You too can contribute to the fight against Global Climate Change

Дорогой житель города Баку!

Вы тоже можете внести свой вклад в борьбу с глобальным изменением климата

Follow us on social networks

News Line