On account of three local companies providing life insurance services (Pasha Hayat Sigorta, Ateshgah Hayat Sigorta and Qala Hayat Sigorta) in the first half of 2015 there was 65.9 million manat (+ 17.5% to July 1, last year). Taken together, this means 27.2% of the total insurance market.
In the structure of life insurance cumulative life insurance premiums were 56.3%, compulsory insurance against accidents and occupational diseases in industry - 31.9%, and insurance against death - 11.5%.
Payments by the mentioned companies were at the level of 30.6 million manat (an increase of 8.8 times) with a share of 33.3%. The payout structure for these insurance types was 90.5%, 3.7% and 5.8% respectively.
For every 100% of life insurance premiums the payments amounted to 46.5% (by 1 July of the previous year the index was 6.2%). --17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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