AZERBAIJAN: annual growth rate of premiums in January-August exceeded 40%
In terms of insurance types, GWP of voluntary classes amounted to AZN 374.7 million (72% of total market GWP), and in compulsory classes local insurers generated AZN 142.3 million (28%) in premiums. Shares in paid claims were almost the same: the share of voluntary insurance was 74% (AZN 124.6 million), the share of compulsory classes amounted to 26% (AZN 43.9 million). According to statistics from the period under consideration, for each AZN 100 of premiums, there were AZN 32.6 of paid claims (vs AZN 45.3 a year ago).
*EUR 1 = AZN 1.9859 (as of 31.08.2018)