In January, local insurers - members of the Bureau of Compulsory Insurance (BCI) increased their property insurance by 38% to the first month of last year.
According to the official information on the BCI website, together this segment supplied 5.7 million AZN. In order to collect as much money, the insurers concluded 5,253 contracts with property owners (minus 22.6%). Previously, the absolute of the contracts accounted for houses and apartments, whereas now the housing portfolio is 55.4%, 0.5% is the share of administrative buildings, and 44.1% is commercial property.
The maximum amount of insurance coverage in insured property cases in the capital is 25,000 AZN, in Gandja, Sumgayit and Nakhchivan it is 20,000 AZN, and in other localities it is 15,000 AZN. The insurance rate for this type of insurance is 0.2% of the sum insured. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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