The current situation on the international currency market has led to a gradual appreciation of the Azerbaijani currency against the EUR and the beginning of February 2015 was marked by its maximum rate since the beginning of 2012 - AZN 1.0372 to one EUR. "There is no any factor for long-term weakening of the AZN in Azerbaijan", said the Chairman of the Central Bank of Azerbaijan Elman RUSTAMOV, cited by APA-Economics.
Taking into account the exchange rate variations, in European currency, the insurance market increased by 19.77%, to EUR 450.73 million.
In the reporting period, the life insurers' gross written premiums increased by 52.66% and totaled AZN 104.99 million. At the same time, the insurance companies' overall non-life GWP amounted to AZN 324.19 million, reporting a decrease rate of 3.77% compared with FY2013.
Access www.xprimm.com and download the FY2014 Azerbaijani insurance market statistics.
Market portfolio and market ranking (in EUR and AZN):
- Gross written premiums
- Paid claims
- Growth rates
- Market shares