Azerbaijan
AZERBAIJAN: PASHA Life Insurance plans to achieve record net profit based on 2019 results
PASHA Life Insurance plans to achieve a record net profit among insurers of the country based on 2019 results (~AZN 25 million/ ~EUR 13 million), as Niyaz ISMAYLOV, Chairman of the Board of the company, told Trend.
6 January 2020AZERBAIJAN: the cabinet of ministers approved the Statute of the Agricultural Insurance Fund
The cabinet of ministers of Azerbaijan approved the Statute of the Agricultural Insurance Fund, Trend reports with reference to the cabinet.
18 December 2019AZERBAIJAN: for 10 months life insurance dropped by almost 40%
From January to October 2019, GWP of the voluntary Health insurance increased by almost AZN 10 million (~EUR 5.27 million), Motor Hull increased by about 20%, while Life insurance, on the contrary, decreased by almost 40% y-o-y, and these trends will continue, said Azer ALIYEV.
12 December 2019AZERBAIJAN: premium amounts on compulsory medical insurance to be set
The amendments to the law "On medical insurance" were put up for discussion and were proposed to set insurance premiums for compulsory medical insurance, as Trend reports referring to chairman of the parliamentary health committee Ahliman AMIRASLANOV.
5 December 2019AZERBAIJAN: financial markets supervision transferred to the Central Bank
On November 28, by Order of the President of the Republic of Azerbaijan, the Chamber of Financial Supervision of the Republic of Azerbaijan (FIMSA) was abolished, its task being transferred to the Central Bank.
5 December 2019AZERBAIJAN: compulsory health insurance to be introduced in 2020 throughout the country
Introduction of compulsory health insurance (CHI) in the country is proposed to be done in 4 stages throughout the country in 2020, said Zaur ALIYEV, the Chairman of the Board, the State Agency for compulsory health insurance of Azerbaijan.
28 November 2019AZERBAIJAN: new life insurer Xalq Hayat has already collected GWP worth over AZN half million
At the end of September 2019, the new life insurer Xalq Hayat generated GWP for "life insurance of persons borrowing loans" and "compulsory insurance against industrial accidents and occupational diseases" worth of AZN 577 thousand (~EUR 310 thousand), ABC.AZ reports.
20 November 2019STATISTICS: AZERBAIJAN, 3Q2019: life insurance dropped by more than 7% y-o- y
From January to September 2019, total market GWP decreased by 8.11% y-o-y, to AZN 522.45 million (EUR 281.01 million). Paid claims, on the contrary, went up by almost 8% and reached AZN 201.70 million (EUR 108.49 million), as the data, published by the Azerbaijan's Financial Market Supervisory Authority (FIMSA) show.
14 November 2019AZERBAIJAN: pension insurance agreement marks an important step in cooperation with Bulgaria
In November 2019, Azerbaijani Minister of Labor and Social Protection of the Population, Sahil BABAYEV and Bulgarian Ambassador Nikolay YANKOV at the DOST (Sustainable and Operative Social Security) Agency signed an intergovernmental agreement on pension insurance in Baku, as Azernews reported with reference to the Ministry of Labor and Social Protection of the Population.
13 November 2019AZERBAIJAN: in January-September total number of Green Card policies increased by 18% y-o-y
For the first nine months of 2019, the number of Green Card policies reached 39.5 thousand units, which is 18% more than for the same period of last year, Trend reports with reference to the data provided by the Compulsory Insurance Bureau of Azerbaijan.
24 October 2019AZERBAIJAN: the country to expand cooperation with Iran in insurance sector
Over the past year, more than 70% trade growth between Azerbaijan and Iran indicates the development of mutual relations, both countries being keen on the implementation of mutually beneficial business projects, in a bid to stimulate trade volume, according to the Iranian Minister of Economic Affairs and Finance, Farhad DEJPASAND.
17 October 2019AZERBAIJAN: new life insurer registered - Mega Life Insurance
New life insurer - Mega Life Insurance was registered by the Ministry of taxes of Azerbaijan. Charter capital of the new life insurer is AZN 11 million (~EUR 5.94 million), as Trend reports.
3 October 2019Azerbaijani Compulsory Insurance Bureau pays over 69,000 manats
The Azerbaijani Compulsory Insurance Bureau paid 69,512 manats as part of the international insurance system Green Card in connection with a road accident on the Russian-Caucasian Federal Highway, Trend reports citing the bureau.
3 October 2019Azerbaijan's PASHA Insurance increases net profit
3 September 2019AZERBAIJAN: Agro insurance Fund to be established alongside new insurance mechanism
A new agro insurance mechanism has been developed in Azerbaijan. It provides for the establishment of a collective insurance system, AzerNews reported with reference to the Ministry of Agriculture.
22 August 2019PASHA Insurance offers beneficial real estate insurance alongside casco car insurance
20 August 2019Azerbaijan's Mega Insurance company to increase authorized capital
20 August 2019STATISTICS: AZERBAIJAN, 1H2019: market GWP decreased by 8.84% y-o-y
For the first half of 2019, market GWP decreased by 8.84% y-o-y and amounted to AZN 361.34 million (EUR 187.05 million), according to the data published by the Financial Markets Supervision Chamber of Azerbaijan (FIMSA).
8 August 2019AZERBAIJAN: from January to June Green Card GWP increased by 15% y-o-y
In the first half year of 2019, the number of Green Card policies increased by 16% y-o-y and totaled 18,837 agreements, Trend reports according to the data of the Bureau of Compulsory Insurance of Azerbaijan.
5 August 2019About 230,000 AZN paid for compulsory car insurance since beginning of 2019
14 July 2019
