Reduction in hull insurance will force companies to diversify their portfolio

The yield of the market for Hull car insurance dropped by more than 10%. In January this year was collected 3.33 million AZN with payments of 2.05 million manat (difference 1.28 million at a ratio of 61.56 %). In January last year, it was collected 3.81 million with payments of 1.96 million ( 1.85 million difference in the ratio of 51.4 %).

For many years it was the leading position , now it 's third largest after the CTP and voluntary health insurance . According to experts , the development of life insurance and, almost ready for the introduction, mandatory health insurance will push Hull insurance further to the periphery of the market.

According to the chairman of Azerbaijan Insurers Association Orkhan Bayramov, who talked with Turan, the trend is influenced by the reduction of import cars. Tightening of the monetary policy by the Central Bank contributes to the modernization of the car market , regulating the importation of private vehicles, especially older vehicles that do not comply with Euro 3 and above. This is not only a long-term trend , but the message that specialized insurers need to diversify the portfolio of their premiums, he said.

According to the State Customs Committee , in January, the country imported 6 477 vehicles (9.2% less than the year before), with 5,925 of them being cars . - 17D-