AZERBAIJAN: GWP of AtaSigorta increased by almost 27% y-o-y in 1Q2019

GWP of AtaSigorta for January-March this year amounted to AZN 5.4 million, which is 26.9% more y-o-y. The insurer's paid claims for the period amounted to about AZN 3.5 million (+89.8%), as FINEKO and ABC.AZ reported.

The Financial Market Supervisory Authority of Azerbaijan (FIMSA) limited the license of AtaSigorta for compulsory insurance of civil liability of vehicle owners in April due to violation of the law on insurance related to conclusion of MTPL contracts. Based on the same violation, the regulator limited the license of Ateshgah Insurance.

AtaSigorta has been operating on the insurance market of Azerbaijan since 2004, and Ateshgah since 1996.

*EUR 1 = AZN 1.9098 (01.04.2019)



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