The growth rate of the insurance market of Azerbaijan impressed Finance Minister Samir Sharifov.
As he said in his speech at the fifth Azerbaijan International Insurance Forum (AIIF), for 8 years, the market has grown 6 times - up to $ 543 million
At the opening AIIF finance minister, the insurance market in recent years demonstrates the serious development trends.
According to him, there is a need for diversification of the insurance market within the extension and branching of the economy and growth of the insurance market due to the development of non-oil segment.
The share of insurance in GDP reached 0.7% (in 2012 it was 0.41%), and insurance fee per capita rose from $ 29 to $ 58 per year.
The total capital of insurance companies has increased over the last 8 years with $ 52 million to $ 463 million (almost 9 times) at the end of 2013. Net income also increased respectively by 9 times - up to $ 84 million - said the Minister. - 17D-
Economics
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