In the first quarter of 2017, 215,572 electronic insurance contracts for compulsory motor third party liability insurance (MTPL) were concluded, of which 29,808 are contracts for cars registered outside the country and passing through the territory Azerbaijan on transit, the Bureau of Compulsory Insurance said.
In comparison with the same period last year, the number of MTPL contracts reduced by 10.2%.
Insurance premiums for compulsory MTPL insurance in the first quarter of this year amounted to 16,849,376 manat, which is 16.6% less compared to the same period in 2016.
Note that from November 1, 2016, MTPL contracts are concluded only in electronic form.
Thirteen insurance companies, i.e. Ateshgah, Standard Insurance, Ata Sigorta, Khalg Sigorta, Pasha Insurance, AXA MBASK, AzSigorta, State Insurance Commercial Company, Mega Sigorta, Ipek Yolu, Azerbaijan Senaye Sigorta, Qala Sigorta, and Gunay Sigorta conclude MTPL contracts. --71D
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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