Insurers in Azerbaijan collected AZN 201 million for Jan-Mar 2019


May 8, Fineko/ Azerbaijani insurance companies gathered premiums for AZN 201.17 million and paid compensations for AZN 46.2 million in the first quarter of 2019.

The Financial Market Supervision Authority (FIMSA) informs that the premiums on voluntary insurance totaled AZN 129.947 million and paid compensations AZN 29.912 million.

"Premiums on compulsory types of insurance amounted to AZN 71.226 million and compensation payments AZN 16.3 million. 64.6% of the insurance market premiums accounted for voluntary insurance and 35.4% for compulsory insurance. Besides, 64.7% of premiums accounted for compensations on voluntary and 35.3% on compulsory insurance," FIMSA said.

Azerbaijan numbered 22 licensed insurance companies by early April 2019.