Success of AtaSigorta due to CTP
Insurance company AtaSigorta in January-July 2012 attracted 7.08 million of premiums.
As reported in the management of the company, according to preliminary data, nearly half (43%) of premiums amounted to charges under the contracts of compulsory insurance of civil liability of vehicle owners (CTP of the new rates).
These absolute figures were 2.3 times higher than the same period last year, and even 28.6% better than last year.
In January-July insurance reimbursement for confirmed cases amounted to 1.49 million manat, which is 42% more than the same period last year. Voluntary insurance payments totaled 1.37 million manat, and those on compulsory insurance were 127,000 manat.
JSC AtaSigorta has been in effect in the local insurance market since autumn 2004. The sole shareholder of the company is a group of investment companies AtaHolding.
The authorized capital of the company this year totaled 5.6 million manat.
The company has offices in Baku and Shamkir and provides services on 27 types of insurance (22 - voluntary, 5 - mandatory). -17D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review