Baku, Azerbaijan, Nov. 22
By Anvar Mammadov – Trend:
Azerbaijan’s insurance companies collected 270.2 million manats (1.7091 AZN/USD on Nov. 22) on voluntary types of insurance in January-October 2016 that is by 14.4 percent more than in the same period of 2015, said the country’s Financial Market Supervisory Authority.
Voluntary types of insurance accounted for 64.8 percent of collections in the country’s insurance market and the remaining part (35.2 percent or 148.16 million manats) accounted for compulsory types of insurance, the volume of which increased by 3.8 percent from October 2015 to October 2016.
Meanwhile, about 75.4 percent of insurance payments or 143.68 million manats (growth by 38.4 percent during the year) accounted for voluntary types of insurance, 24.6 percent or 46.98 percent (growth by 29.8 percent) – for compulsory types of insurance, according to the Supervisory Authority.
One reinsurance and 25 insurance companies operate in Azerbaijan.