Azerbaijan
AZERBAIJAN: Status Insurance Broker becomes a new branch of Brokerslink global brokerage platform
Status Insurance Broker from Azerbaijan has been added by Brokerslink global brokerage platform to its global network as a new branch, according to a press-release of Full Circle Communications.
23 February 2022AZERBAIJAN: in January, GWP increased by more than 13% y-o-y
In January 2022, 20 Azerbaijani insurers collected AZN 118.23 million (~EUR 61.85 million*) of premiums, abc.az reports according to the data of the Central Bank of Azerbaijan. This is 13.67% higher in the same period a year earlier.
21 February 2022STATISTICS: AZERBAIJAN, FY2021: GWP went 16% up, while paid claims decreased 1.4% y-o-y (in local currency)
In 2021, Azerbaijani insurers collected AZN 843.90 millions of premiums, which is 15.82% more y-o-y (EUR 438.05 million). Total paid claims amounted to AZN 458.73 million (EUR 238.11 million), down 1.38% from a year earlier, according to the data published by the Central Bank.
1 February 2022AZERBAIJAN: direct settlement in MTPL is planned to be introduced in Azerbaijan
Over 90% of cars in Azerbaijan are insured under MTPL, said Vusal GURBANOV, director of the department for control over insurance activities of the Central Bank of Azerbaijan, Forinsurer reports.
11 January 2022AZERBAIJAN: for 11 months of 2021, GWP of insurers increased by almost 15% y-o-y
For 11 months of this year, 20 insurance companies of Azerbaijan collected AZN 767.91 million (EUR 398.66 million*) in premiums, which is 14.9% more y-o-y, ABC.AZ informed with reference to the Central Bank of Azerbaijan.
27 December 2021AZERBAIJAN: GWP in 10 months grew by more than 12% y-o-y
In January-October 2021, Azerbaijani insurance companies collected GWP in the amount of AZN 705.70 million (EUR 359.46 million*), which is 12.3% more y-o-y, writes ABC.AZ with reference to the Central Bank of Azerbaijan.
7 December 2021AZERBAIJAN: Azerbaijan and Turkey discuss further steps of forming relations in insurance
During a recent visit of representatives of the AIA (Azerbaijan Insurers Association) that took place within the framework of a memorandum signed between the AIA and the Insurance Association of Turkey, Azerbaijan and Turkey discussed further formation of relations in insurance, Trend reports with reference to AIA.
1 December 2021AZERBAIJAN: over AZN 1.1 billion to be allocated for mandatory health insurance in 2022
In 2022 over AZN 1.1 billion (~USD 647 million) is planned to be allocated for mandatory health insurance in Azerbaijan, according to the Finance Minister Samir SHARIFOV, Trend reports.
24 November 2021STATISTICS: AZERBAIJAN, 3Q2021: life insurance grew by more than 21% y-o-y (in AZN)
The insurance market in Azerbaijan at the end of 3Q2021 grew by almost 13%, up to AZN 655.62 million (EUR 332.40 million). At the same time, paid claims of insurers in local currency increased by 21.36% reaching AZN 373.49 million, according to the data published by the Central Bank of Azerbaijan.
2 November 2021AZERBAIJAN: in January-September 6 out of 20 insurance companies recorded GWP decrease y-o-y
According to ABC.AZ, in January-September 2021, GWP decreased in 6 out of 20 insurance companies in the country, while 14 insurance companies recorded growth.
1 November 2021AZERBAIJAN: A-Qroup's GWP grew by 30% y-o-y in three quarters
From January to September 2021, GWP of A-Qroup, one of the top ten market leaders in Azerbaijan, amounted to AZN 10.41 million (~EUR 5.29 million*), which is almost 30% more than in the same period in 2020, Trend reports.
26 October 2021AZERBAIJAN: 5 insurers account for over 77% of GWP and 88% of paid claims in January-August
In January-August 2021, total GWP of the insurance sector in Azerbaijan amounted to AZN 580.59 million (~EUR 289.37 million*), while AZN 448.67 million or 77.3% were generated by 5 insurance companies, ABC.AZ writes.
28 September 2021AZERBAIJAN: voluntary life insurance at the end of July grew by 22% y-o-y
GWP in voluntary life insurance in Azerbaijan from January to July 2021 increased by 22% y-o-y and reached AZN 194 million (EUR 96 million*), Trend reports.
20 September 2021AZERBAIJAN: voluntary professional liability insurance in 1H decreased by 53% y-o-y
In the first half of the year, GWP on voluntary professional liability insurance decreased by 53% y-o-y, Trend reports citing the data of the Central Bank of Azerbaijan (CBA).
30 August 2021AZERBAIJAN: motor insurance increased in 1H
In the first half of 2021, MTPL in the insurance market of Azerbaijan increased by 6% to AZN 46.75 million (EUR 23.21 million*), Trend reports referring to the Central Bank of Azerbaijan.
23 August 2021AZERBAIJAN: credit insurance and insurance against business interruption increased in 1H
GWP on credit insurance in Azerbaijan increased by more than seven times y-o-y as of beginning July 2021, Trend reports with reference to the reporting data of the Central Bank of Azerbaijan (CBA), which is the regulator of the insurance market.
16 August 2021AZERBAIJAN: A-Qroup included in the register of members of the Union of Legal Entities of the Compulsory Insurance Bureau
Azerbaijan's A-Qroup insurance company has been included in the register of members of the Union of Legal Entities of the Compulsory Insurance Bureau (CIB) of the country, Trend reported referring to the CIB. And the number of CIB participants has reached 19.
13 August 2021AZERBAIJAN: voluntary cargo insurance in 1H decreased by more than 24% and voluntary insurance of air transport - by more than 26%
In the first six months of the year, GWP on voluntary cargo insurance in Azerbaijan decreased by 24.5% y-o-y and amounted to about AZN 2.6 million/~EUR 1.3 million* (vs AZN 3.5 million by the end of June 2020), Trend reports with reference to the statistics of the Central Bank of Azerbaijan (CBA).
13 August 2021STATISTICS: AZERBAIJAN, 1H2021: paid claims jumped by almost 32% y-o-y
The insurance sector ended the first half of 2021 with an impressive 11.31% y-o-y growth (in local currency), with GWP reaching AZN 452.37 million (EUR 223.55 million), according to data released by the Central Bank of Azerbaijan.
5 August 2021AZERBAIJAN: according to the 1H data, PASHA Life continues to maintain its leading position in the insurance market
The leading life insurer in Azerbaijan, PASHA Life Insurance, published its financial statements for the second quarter of 2021. Financial indicators show that the company continues to maintain its leading positions in the insurance market, Trend said.
3 August 2021
