Local insurers specializing in life insurance collected 104 million 992.8 thousand manat last year (+ 52.7% yoy).
According to the report of Azerbaijan Insurers Association (AIA), there are only three such insurance companies, which in the aggregate collected 24.46% of premiums of the local insurance market with payments of 28 million 573.74 thousand manat (an increase of 7.4 times ), with the proportion of 18.18% of the total payments in the market.
Most of all premiums in this segment were gathered by Pasha Hayat Sigorta - 41 million 902.87 thousand, with payments of 2 million 867.24 thousand manat (extremely low percentage of payments to premiums - 6.9%). On the account of Ateshgah Hayat Sigorta there is 37 million 928.85 thousand, with payments of 24 million 138.55 thousand manat (63.2%), and at Qala Hayat Sigorta there is 25 million 161.09 thousand, with compensations of 1 million 567.95 thousand manat (6.2%). Recall, the average ratio of payments to premiums for the countries of Eastern Europe and CIS is up to 40%.
In Azerbaijan, in general, 27 insurance companies have licenses for operation. --17D-
Economics
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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