Baku, Azerbaijan, Feb. 28
By Anvar Mammadov – Trend:
Azerbaijan’s insurance companies collected 318.94 million manats (1.7475 AZN/USD on Feb. 28) on voluntary types of insurance in 2016 that is by 13.52 percent more than in 2015, said the country’s Financial Market Supervisory Authority (FIMSA).
Voluntary types of insurance accounted for 65.5 percent of collections in the country’s insurance market and the remaining part (34.5 percent or 166.82 million manats) accounted for compulsory types of insurance, the volume of which increased by 3.01 percent during the year.
Meanwhile, 75.6 percent of insurance payments or 179.44 million manats (growth by 32.12 percent during the year) accounted for voluntary types of insurance and 24.4 percent or 57.82 million manats (growth by 30.13 percent during the year) accounted for compulsory types of insurance, according to FIMSA.
One reinsurance and 21 insurance companies operate in Azerbaijan.
