AZERBAIJAN: 1Q2014 was marked by a 15.37% growth of the local insurance market

24 June 2014 — Olesea ADONEV
azerbaidjan-statisticsIn 1Q2014, the insurance market of Azerbaijan totaled AZN 117.94 million, marking an increase rate of 15.37% in local currency, while the claims payments amounted to AZN 28.57 million (12.49% up), according to data presented by the Ministry of Finance of the Republic of Azerbaijan. Due the exchange rate variations, in European currency, the insurance market increased by 7.72%, to EUR 109.39 million.

In 1Q2014, gross written premiums of the life insurers' went up by 48.36% and totaled AZN 30.68 million. At the same time, the insurance companies' overall non-life GWP amounted to AZN 87.27 million, 7% more as compared with 1Q2013.

Access and download the 1Q2014 Azerbaijani insurance market statistics.

Market portfolio and market ranking (in EUR and AZN):
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Market shares

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