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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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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