All the local insurance market in January-October on compulsory premiums collected on the total amount of 107,440,420 AZN. Share their weight is 38.1%, as of 1 November last year - 25.3%.
Just a quarter ago, the ratio was 29 to 71%, which indicates an increase of the insurance agents of the Bureau of Compulsory Insurance. It should be noted a downward trend in activity in the property insurance. Experts predict the end of the year, the percentage ratio of voluntary and mandatory awards of 60 to 40.
According to the State Insurance Supervision Service of the Ministry of Finance, most of the mentioned prizes - for compulsory civil liability insurance of vehicle owners to third parties (CTP for the new rates) - 62,500,800 manats. This species is also a leader in the full range of premiums.
Compulsory insurance of individual real estate companies brought in ten months 8 million 976,750 manat. On liability insurance for operation of real estate there was received 242,160 manat and on insurance of passengers - 122,290 manat. - 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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