Fees of Insurance Companies Grew by 3.6%
Baku / 26.09.17 / Turan: During the first eight months, the insurance companies' fees totaled AZN 368.92 million, which is 3.6% more than it was in the same period in 2016.
The report of the Financial Market Supervision Authority says the payments of insurers for the reporting period amounted to 167.06 million manat, which is 22.1% more than it was in the same period last year.
Voluntary insurance fees increased by 11.7%, (252.98 million manat), and payments - by 30.5%, (130.75 million manat).
For compulsory types of insurance, company fees decreased by 10.5%, amounting to almost 115.94 million manat, and payments - by 0.7% - up to 36.31 million manat. -71D-
Finance
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The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
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In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
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