Pasha Hayat Sigorta Leads in Insurance Premiums, Ateshgah Hayat Leads in Insurance Payments
Baku / 12.09.17 / Turan: For the first seven months of 2017 the leader in insurance premiums in Azerbaijan was the company Pasha Hayat Sigorta, which collected 89,261,943 manat. The second in this list was the company Pasha Sigorta (73,787,220 manat), and the third was Ateshgah Sigorta (22,738,635 manat).
On insurance payments, for the reporting period, the leader was the insurance company Ateshgah Hayat, which paid out 30,517,856 manat. The second was Pasha Hayat Sigorta (27,907,615 manat) and the third was Pasha Sigorta (24,323,390 manat).
In general, in January-July, insurance companies collected 322,830,059 manat, and paid 144,008,840 manat.
In comparison with the same period of the last year, the voluntary insurance market increased by 14,333,000 manat and made up 223,458,000 manat. Payments for this type of insurance amounted to 113,320,000 manat. -71D-
Finance
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As of the end of 2023, investments of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population amounted to 2,515.3 million manats, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025.
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In Azerbaijan, approximately 6.5 billion manats will be allocated from the state budget for 2025 to implement the "Social and Economic Development Strategy for 2022-2026", the conclusion of the Chamber of Accounts on the draft law "On the State Budget for 2025." According to the document, this amount represents a 17.2% increase compared to the approved forecast for 2024.
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The Central Bank of Azerbaijan has reinstated the license for an insurance agent issued to an individual, Nabiyev Sabukhi Zakirovich, the regulator's official website reported. The announcement states that the decision was made on November 19 in accordance with the Law on Insurance Activity. The reason for the reinstatement is that the insurance broker has addressed the issues that led to the suspension of the license. Currently, there are 426 individuals and 57 legal entities holding insurance agent licenses in Azerbaijan.
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