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 Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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The architectural company El & En has received several contracts worth a total of AZN 805,593 from the Committee for Urban Planning and Architecture. Additionally, the Territorial Construction Planning Center commissioned projects from the private company El & En worth several hundred thousand manats. These architectural projects involve work in liberated territories and other regions of Azerbaijan. The co-owner of this company, along with his son, is Elbay Gasimzade, the head of the Public Council under the State Committee for Urban Planning and Architecture and simultaneously the Chairman of the Union of Architects.
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