Insurers in Azerbaijan collected AZN 568 million since early 2018


October 29, Fineko/abc.az. Over Jan-Sept 2018 the Azerbaijani insurance companies gathered premiums for AZN 568.5 million and paid compensations for AZN 186.9 million.

The Financial Markets Supervision Authority (Fimsa) reports that the premiums on voluntary insurance totaled AZN 414.9 million and compensation payments AZN 137.3 million, while on compulsory insurance the premiums amounted to AZN 153.6 million and payments AZN 49.6 million.

"73% of the premiums accounted for voluntary and 27% for compulsory insurance, while 73.5% of compensations accounted for voluntary and 26.5% for compulsory insurance," Fimsa said.

Azerbaijan is numbering 21 insurance companies and one reinsurance company.