The biggest local insurer Pasha Sigorta announced introduction of the 1st international health insurance product in Azerbaijan, according to the portal abc.az. At that maximal insurance amount within the product is USD 250 thousand and minimal premium is USD 769.
Rashad AKHMEDOV is the new executive of the Azeri Compulsory Insurers Bureau (CIB), replacing Fariz AZIZOV, according to the Bureau's official report. Rashad AKHMEDOV officially assumed his duties from June 1, according to the report.
20-21 June 2018 in Baku, will take place, at the Boulevard Hotel, the annual and most important insurance event within the region - "Insurance in Azerbaijan: New perspectives".
Azeri insurers generated during Q1 2018 GWP by 28.16% more than a year before while paid claims remained just at the same level, - said the official report of the Financial Market Supervisory Authority of Azerbaijan.
Association of insurers of Azerbaijan is planning introduction of mandatory travel insurance for arriving tourists, informed the Chairman of the Association, Mustafa ABBASBEILI.
The Supervisory Board of the Azerbaijan Insurers Association (AIA) has decided to establish an intermediaries Committee under AIA, said a message from the AIA.
The market needs revision of MTPL tariffs and it means not only increase, but also differentiation according to the country regions, believes Mustafa ABBASBEYLI, Chairman of the Azerbaijan Insurers Association (AIA).
In the 1st quarter of 2018 insurance companies of Azerbaijan generated GWP up by 28.2% y-o-y, - said the official report of the Financial Market Supervisory Authority of Azerbaijan. Paid claims of the same period slightly exceeded the last year's figure.
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.
PASHA Life's net profit in 2017 amounted to AZN 17.33 million, up 36.5% from 2016.
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.
France's AXA announced it had entered into an agreement with Elkhan GARIBLI to sell all its insurance operations in Azerbaijan.