Azerbaijan's insurance market specializing in life insurance for the year rose by more than half. From January to June, collected 49 million 934.55 thousand manat, which is 51.9% higher than the same period last year.
According to the State Insurance Supervision Service of the Ministry of Finance, in the life insurance segment has collected 26.7% of the local insurance market premiums. This is despite the fact that there are 3 patterns of total 28.
Payments companies totaled 2,916,250 manats (72.7%) with weight 5.28% of all payments insurers.
The leading company is Ateshgah Hayat Sigorta with premiums of $ 20,240,000 and payments 1,899,350 manats. It is pursued by Pasha Hayat Sigorta (19,485,580 vs. 788,050 manat), and closes the three Qala Hayat Sigorta (AZN 10,213,750 premiums against 103,120 manat payment). -17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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