AZERBAIJAN: in January local insurers generated GWP 6.5% more y-o-y 28 February 2019

28 February 2019 — Marina MAGNAVAL
For January, 2019, Azeri insurers generated GWP in the amount of AZN 88.2 million (+6.57% y-o-y), according to the Chamber of Supervision of Financial Markets of Azerbaijan.

Based on the market supervisor's data, 82.3% or AZN 72.6 million were generated by voluntary insurance and 17.7% or AZN 15.6 million by compulsory classes.

Total paid claims in January amounted to AZN 17.2 million, which is about 25.2% less y-o-y. The share of voluntary insurance in total paid claims reached 62.8% or AZN 10.8 million, and the share of the compulsory classes amounted accordingly to 37.2% or AZN 6.4 million.

*EUR 1 = AZN 1.9555 (31.01.2019)

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