Azerbaijan
AZERBAIJAN: Mega Hayat becomes a new member of AIA
Azerbaijani life insurance company Mega Hayat, which recently entered the domestic market, became a new member of AIA, Trend reported with reference to the AIA.
3 August 2021AZERBAIJAN: a memorandum of cooperation signed between Russia and Azerbaijan
The All-Russian Insurance Association (ARIA) and Azerbaijan Insurers Association signed a memorandum of cooperation on the initiative of the Azerbaijani side during the visit of President of ARIA Igor YURGENS to Baku, Trend reports with reference to the Azerbaijan Insurers Association.
19 July 2021AZERBAIJAN: a positive tendency in GWP and paid claims to continue for the next medium and long term
The domestic insurance market coped to avoid the large-scale negative effects of the COVID-19. However, the summary indicators for January and February indicate a relatively negative impact, at the same time, according to the results of the first quarter of 2021, there is a positive tendency, said Executive Director of the Azerbaijan Insurers Association (AIA) Elmar Mirsalayev for Trend.
6 July 2021AZERBAIJAN: the Asian Development Bank to support the insurance market's development
The Asian Development Bank will support the development of the insurance market in Azerbaijan, this was discussed during the meeting between the Azerbaijani Insurers Association (AIA) management and the Head of the Permanent Mission of the Asian Development Bank (ADB) in Azerbaijan Candice McDeigan, Azernews reported.
23 June 2021AZERBAIJAN: in Jan-April MTPL GWP increased by 9.5% y-o-y
From January to April GWP in MTPL grew by 9.5% y-o-y to AZN 28.7 million (~EUR 13.93 million*), Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA). According to the CBA, in 2020 for the same period MTPL GWP the country amounted to AZN 26.2 million.
16 June 2021AZERBAIJAN: Positive dynamics in receipts to the state budget of Azerbaijan from compulsory state social insurance and insurance against unemployment remains
In the first four months of 2021 premiums from compulsory state social insurance and insurance against unemployment kept positive dynamics in receipts to the state budget of Azerbaijan - 112.6% and 111.4% respectively, as Trend reports referring to the publication of the Minister of Economy of Azerbaijan Mikayil JABBAROV.
3 June 2021Azerbaijani insurance sector is preparing for both opportunities and risks of digitalization
Digitalization of the business sector of Azerbaijan and the products of insurance companies will contribute to the expansion of the segment of insurance products against cyber-attacks in the near future, insurance expert Ali Bayramov told Trend news agency.
2 June 2021STATISTICS: AZERBAIJAN, 1Q2021: mandatory insurance increased by more than 16% y-o-y, but voluntary decreased by 3%
Following the results of the first quarter of 2021, the insurance sector of Azerbaijan showed a fairly moderate growth (+3.42%) to AZN 248.99 million (EUR 125.13 million), according to the data published by the country's Central Bank.
20 May 2021AZERBAIJAN: AIA poll results - insurance have become more affordable
According to the poll, conducted by AIA (the Azerbaijan Insurers Association), citizens and business entities in Azerbaijan believe that insurance services have become more affordable, as Trend reports with reference to the AIA.
11 May 2021AZERBAIJAN: PASHA Life continues to lead in the insurance market in terms of GWP in the first quarter
PASHA Life Insurance announced its results for the first quarter of 2021 and continues to lead in the insurance market in Azerbaijan in terms of GWP, maintaining a growth trend despite the pandemic, Trend reports.
4 May 2021AZERBAIJAN: the Azerbaijani Insurers Association and the Agricultural Insurance Fund to start cooperation
A memorandum on mutual cooperation was signed between the Azerbaijani Insurers Association and the Agricultural Insurance Fund, as MENAFN informed.
13 April 2021AZERBAIJAN: GWP from mandatory health insurance exceeded the target in 1Q2021
GWP from mandatory health insurance in Azerbaijan in the first quarter of 2021 exceeded AZN 112.3 million (EUR 56.3 million*), Trend reported according to the Azerbaijani Minister of Economy Mikayil JABBAROV.
12 April 2021AZERBAIJAN: compulsory health insurance to cover the entire population from April 1
Starting April 1, compulsory health insurance (CHI) covers the entire population of Azerbaijan, Trend reported referring to the State Agency for Compulsory Health Insurance.
6 April 2021AZERBAIJAN: Despite all the difficulties of 2020, the portfolio of PASHA Life grew by 16%
PASHA Life Insurance, the leading life insurance company in Azerbaijan, in 2020 generated GWP worth AZN 221 million (~EUR 105.79 million*). The company's paid claims reached AZN 205 million. Despite the difficult situation in 2020, PASHA Life's GWP portfolio grew by 16%, Trend reports.
22 March 2021AZERBAIJAN: Mega Life Insurance included in the register of the Azerbaijani Compulsory Insurance Bureau
Mega Life Insurance was included in the register of the Azerbaijani Compulsory Insurance Bureau, Trend reports with reference to the Compulsory Insurance Bureau.
16 March 2021AZERBAIJAN: the license of Ravan Sigorta revoked by the Central Bank
The license of the Azerbaijani insurance company Ravan Sigorta has been revoked, Trend reported according to the Central Bank of Azerbaijan.
16 March 2021AZERBAIJAN: Azersigorta is planning to close some of its branches in Baku and other districts
The state insurance commercial company of Azerbaijan, Azersigorta, has decided to close some of its branches in Baku and other districts, as Trend reported on March 1.
4 March 2021AZERBAIJAN: Turkey and Azerbaijan discussed an action plan of cooperation in insurance
In February the Azerbaijan Insurers Association (AIA) and the leadership of the Turkish Insurance Union had an online conference, during which the parties discussed an action plan for the first stage within the framework of mutual cooperation in insurance between the two counties, Trend reported.
2 March 2021AZERBAIJAN: life insurance market got a new player
Mega Life Insurance company received a license for life insurance activities. The Central Bank of Azerbaijan issued the license for the insurer for a period of five years, Trend informed according to the Central Bank.
1 March 2021AZERBAIJAN: Xalq Sigorta: despite the challenging situation, the market experienced growth in 2020, as in previous years
Despite the problems caused by the COVID-19 pandemic, the insurance sector in Azerbaijan has seen growth in a number of segments.
24 February 2021
