As of July 1 for all types of insurance companies payments were made in the amount of AZN 58,097,890, which is 28.7% more than last year. Growth, particularly in the segment of payments due to mandatory civil liability of owners of vehicles - 11.59 million manat (by the second half of last year on the new CTP there was paid 12.5 times less - 925680 manat).
For insurance claims in the voluntary types produced 41.02 million manat of payments. The greatest amount of compensation was in the VHI - 21.89 million manat and hull insurance of motor vehicles - 12.43 million manat, voluntary life insurance paid 1.35 million manat, travel insurance - 133,400 manat.
By accident insurance paid 721,110 manat, property insurance against fire and other risks - 2.02 million manat, cargo insurance - 85,030 manat, voluntary insurance of civil liability of vehicle owners - 189,130 ??manat.
We note in particular insurance companies from employee fraud - in these cases offset by 1.7 million manat. According to general liability insurance paid 135,340 manat, employers' liability insurance - 20,520 manat. The death or deaths of livestock, as well as on the facts of crop offset the overall 480,000 manat, which many in a "void" in the contracts.
Mandatory insurance generally paid 17.08 million manat, of which the new CTP had 67.9%.
For compulsory military insurance paid 3.37 million manat on compulsory state insurance court officials and law enforcement agencies - 422600 manats, in contracts since the old CTP - 21780 manat in the absence of premiums for compulsory insurance of property - 830,360 manat. - 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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