AZERBAIJAN: Regulation of medicine prices positive for medical insurance

The state regulation of prices for medicines in Azerbaijan will not contribute to a decline in profits for health insurance companies.

The statement was made by Orkhan Bayramov, the head of Azerbaijan Insurers Association, at a press conference on June 17 focused on the activities of Azerbaijani insurance companies from January until May.

"State regulation of drug prices will definitely have a positive impact on the health insurance because the insurance payment depends on the prices of medicines. If prices rise, then, consequently, the volume of payments rise also. Now artificially inflated prices will be prevented, which at least will not allow the health insurance to be unprofitable," he stressed.

Earlier, the Tariff Council of Azerbaijan adopted a mechanism for calculating the price of medicines. Using this new model, the Council determines wholesale and retail prices for medicines that are licensed by the state. Read the full story
Share |

Related articles

Azerbaijani A-Qroup showed premium growth in the first quarter

A-Qroup based on its 2018 first quarter results saw a gross premium growth assessed at 13% - said the insurer's official report. Insurer's total premium volume amounted to AZN 1.83 million (EUR 0.87 million) in 1Q2018, thus exceeding the similar result of the previous year.


Insurance market of Azerbaijan in the beginning of 2018

PASHA Sigorta collected in January 2018 more insurance premiums than any other insurance company in Azerbaijan, according to the Financial Market Supervisory Authority (MBNP), January GWP amounting to AZN 41.23 million (EUR 20.14 million) or 49.8% of total in Azerbaijan.



Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.



5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.


See all