Azerbaijan, Baku, Dec. 6 / Trend U. Ismayilova /
The Azerbaijani insurance companies' portfolio growth is expected to hit 5-10 percent in 2011, the head of the State Insurance Supervision Service of the Azerbaijai Finance Ministry Namik Khalilov said.
"The amount of the portfolio will remain at last year's level as of 2010," Khalilov said.
The amount of Azerbaijani insurers' premiums for 2009 amounted to 163.31 million manat with payments worth 53.07 million manat.
He said that the insurers' portfolio will be formed as of 2010, as well as its possible growth will be ensured at the expense of auto insurance, as well as the retail sales growth in 2011.
"The insurers' portfolio growth will also be affected by the gradual development of insurance culture in the country", Khalilov said.
The amount of 27 insurance companies' premiums in Azerbaijan as of January-October totaled 130.30 million manat with payments worth 41.27 million manat.