Azerbaijan
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Azerbaijan 3Q2019 Insurance Companies Rankings
Azerbaijan 3Q2019 Market Portfolio
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AXA to sell its operations in Azerbaijan
France's AXA announced it had entered into an agreement with Elkhan GARIBLI to sell all its insurance operations in Azerbaijan.
20 February 2018STATISTICS: AZERBAIJAN, FY2017: life insurance is growing rapidly, maintaining the market on a positive trend
Azeri insurers ended 2017 with GWP worth AZN 556.8 million (EUR 274.2 million), 14.5% up y-o-y in local currency. Given the continuous devaluation of the Azeri Manat, the market's premium production maintained a positive trend also denominated in European currency, but at a significantly lower pace (5.2% y-o-y).
1 February 2018AZERBAIJAN's financial regulator picks its medical insurer
A-Group insurance company won a tender for providing medical insurance services to employees of Azerbaijan's Financial Market Supervisory Authority (FIMSA), the newspaper "Azerbaijan" reported Jan. 25.
31 January 2018AZERBAIJAN preparing new law on stimulating agricultural insurance
The Committee for Agrarian Policy of the Azerbaijani parliament will view the draft law "On Stimulation of Agricultural Insurance" in May 2018.
31 January 2018AZERBAIJAN`s insurance market to keep on growing in 2018
23 January 2018Azerbaijani State Agency for Compulsory Health Insurance becomes public legal entity
State Agency for Compulsory Health Insurance of Azerbaijan has officially become a public legal entity, as the country's President has signed the decree that provides for the legal basis of its functioning.
18 January 2018AZERBAIJAN discusses creating insurance market modernization mechanism
Creation of a mechanism of insurance market modernization is being discussed in Azerbaijan, the Financial Market Supervisory Authority (FIMSA) said Jan. 12.
17 January 2018AZERBAIJAN: Purchase of motor insurance policies now possible via Azerbaijan's payment terminals
It is now possible to buy compulsory civil liability insurance policies for motor vehicles via MilliON payment terminals in Azerbaijan, a source in the Komtec Ltd. (a technical center for installation and service support of MilliON payment terminals) told Trend.
8 January 2018Azerbaijan: the MTPL electronic issuance system one year after debut
One year after the system introduction, the number of electronically issued MTPL policies in Azerbaijan has exceed 1 million, worth almost AZN 83.78 million (EUR 46.29 million) in premiums - data for January-November 2017.
7 December 2017AZERBAIJANI insurance firm's license suspended
The license of Azerbaijan's Progress Insurance Agency CJSC has been suspended for one month, the Financial Market Supervisory Authority of Azerbaijan (FIMSA) said in a message Dec. 4.
7 December 2017AZERBAIJAN sees 31% rise in compulsory insurance of automobiles
In November 2017, 84,898 contracts on compulsory insurance of civil liability of vehicle owners were registered in Azerbaijan, up 31% from previous year, Compulsory Insurance Bureau of Azerbaijan (CIB) said.
5 December 2017STATISTICS: Azerbaijan, 3Q2017: The two PASHA units generate about half of the insurance market
In the first nine months of 2017, GWP written by the Azeri insurance companies totaled AZN 414.35 million, increasing by 6.15% y-o-y, while the claims paid increased by 12.94% and totaled AZN 188.58 million.
21 November 2017AZERBAIJANI insurance company expects growth in voluntary type premiums
Azerbaijan's AtaInsurance OJSC expects growth of premiums on voluntary types of insurance by 25-35 percent in 2018, Deputy Chairman of the company's Executive Board Goshgar Hasanov told Trend Nov. 10.
13 November 2017AZERBAIJAN: Starting November 2017 only electronic MTPL contracts will be valid
The validity period of the last paper policies on mandatory MTPL insurance expired on 31 October 2017. Thus, the MTPL policies, written out on paper forms, are completely excluded from circulation in the country, wrote the Compulsory Insurance Bureau.
2 November 2017AZERBAIJAN's Ateshgah company rep talks on further plans
Azerbaijan's Ateshgah Insurance Company does not intend to expand its branch network soon, Azer Aliyev, chairman of the company's board, said in an interview with Trend.
30 October 2017AZERBAIJAN's PASHA Bank talks expansion plans
Azerbaijan's PASHA Bank does not plan to open new branches abroad in the next three years, Taleh Kazimov, chairman of the bank's board, told reporters in Baku Oct. 17.
19 October 2017AZERBAIJAN: FIMSA revokes license of Bashak-Inam Insurance
Azerbaijan's Financial Market Supervisory Authority (FIMSA) said Oct. 6 that it revoked the license of the Bashak-Inam Insurance OJSC.
12 October 2017AZERBAIJAN eyes to introduce CAMELS model for calculating insurance premiums
Azerbaijan plans to introduce CAMELS model for calculating the amount of insurance premiums based on risks, according to the monitoring report on the implementation of measures reflected in the Strategic Road Map for the Development of Financial Services.
5 October 2017AZERBAIJAN: Compulsory car insurance grew by 24% this year
In September, the Compulsory Insurers Bureau registered 86,186
e-insurance agreements on mandatory insurance of motor vehicle owner's
liability.
4 October 2017AZERBAIJAN: Local insurance market resumes growth
Azerbaijan's insurance companies collected insurance premiums in the amount of 368.92 million manats in January-August 2017.
28 September 2017
