In the first month of this year, voluntary health insurance (VHI) due to cooperation with the state oil company, one of the financial mainstays of relatives of the First Lady Mrs. Aliyeva - Pasha Sigorta - has become the undisputed leader in the premium on the insurance market of Azerbaijan.
On it collected 26 million 590.31 thousand manats, which is 20 million more than for life insurance - 6 million 725.81 million manat. The mark of three million vehicles crossed the voluntary insurance (3.81 million), aircraft insurance (3.67 million) and the mandatory liability insurance of vehicle owners to third parties (the new CTP) with 3.7 million manat.
Other items are away from this four. In general, the amount of the insurance market of Azerbaijan (28 subsidiaries, net of reinsurance structures), in January was 53 million 919.35 thousand manats. Growth for the year (up to February 1, 2012 collected 37.02 million manat) was 31.4%.
The bulk of insurance premiums fell on voluntary insurance - AZN 48 mln 576.88 thsd, which by 11 million exceeded the entire local market in the past year.
Thus, according to accident insurance received a total of 676.68 thsd manats, for voluntary insurance of civil liability of aircraft owners fees totaled 2.44 million manat, cargo insurance - 947.47 thousand manats, insurance of ships - 28,1 thousand manats.
Voluntary insurance of civil liability of vehicle owners received AZN 90.52 thsd, property insurance against fire - 1.81 million manat, on other kinds of voluntary insurance - AZN 608.19 thsd (most of the staff on fraud).
Insurance for foreign travel is collected in aggregate 100.33 thousand manats, crop insurance - 8.9 thsd, and insurance of pets - 1,000 AZN.
Collected as voluntary premium for items such as general liability insurance were 571.46 thousand manats, employer liability - 17.09 thsd AZN, and professional liability - 235.11 thousand manats.
Compulsory insurance collected 5.34 million manat, which provided an increase of 2 million compared with last year. Of these, the compulsory insurance of servicemen collected AZN 43.29 thsd, mandatory state insurance of judges and law enforcement officials - 56.56 thsd manats.
Compulsory insurance of property received AZN 616.61 thsd, mandatory liability insurance for property owners - 25.12 thsd AZN, and compulsory insurance of passengers - still zero manat. - 17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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