Expert says about reduction in insurance sector of Azerbaijan


October 1, Fineko/abc.az. The Azerbaijani insurance sector observes reduction amid a decline in life insurance premiums, stated insurance expert Khayal Mammadkhanli in an interview for ABC.AZ when commenting on the indicators of the insurance market for Jan-Aug 2019, published by the Financial Market Supervision Authority.

He stressed that the Jan-Aug indicators show that the trend in the insurance market has not changed since April. In his view, insurance premiums are going to be less by the end of 2019 compared with last year: "Growth is observed only in one or two types of voluntary insurance. And if to talk about the ratio of insurance premiums - insurance compensation payments, I can say that the market situation is generally satisfactory. But as for certain types of insurance, in particular, compulsory car insurance and health insurance, the damage there is higher than in other types of insurance. Precisely that’s why the situation is more stable in companies that diversify their risk portfolio in the market and do not depend on one type of insurance.”