Central Bank has restored validity of licenses of these persons

The Central Bank has restored insurance broker activity licenses for six individuals and one legal entity (Sizin Sığorta Brokeri LLC), ABC.AZ was informed at the CBA.

Insurance not applied in Nakhchivan so far

Since 2011, the Compulsory Insurance Bureau has paid millions of manats in compensation for damage caused to the health of citizens by owners of motor vehicles without civil liability insurance, but there was not a single resident of Nakhchivan among the recipients of insurance payments.

Xalq Sığorta's premiums sharply decreased by 1.3 million manats

Insurance company Xalq Sığorta has published the report on premiums and compensation payments for Jan-Apr 2024.

Compulsory Health Insurance Fund’s budget increases by 1.4%

Premiums on this type of insurance sharply reduced in Azerbaijan

The premiums on mandatory individual passenger accident insurance have sharply decreased in Azerbaijan.

Insurers not meeting requirements to be withdrawn from market 

For 4 months, 38.6 manats out of every 100 manats of premiums paid

List of companies that are often complained about compulsory car insurance

According to the monitoring conducted by the Central Bank of Azerbaijan, the largest number of complaints about compulsory car insurance was again received by Xalq Sığorta OJSC.

Turkish company included in register of foreign reinsurers of Azerbaijan

The Central Bank of Azerbaijan (CBA) has added Turkish company UAG Sigorta ve Reasürans Brokerliği to its register.

In Azerbaijan, 3% of cars are insured on CASCO

Azerbaijan has seen a high increase in CASCO insurance premiums in recent years.

Premiums on voluntary property insurance against risks and fire reduced

The data has been published on premiums and payments on voluntary property insurance against risks and fire in Azerbaijan for the first 3 months of this year.

Volume of AzSigorta compensations paid customers sharply lowered

AzSigorta OJSC collected insurance premiums in the amount of 3 million manats for the first 3 months of this year.

Interest to voluntary health insurance has fallen

The premiums and payments on voluntary medical insurance in Azerbaijan have been made public.

Voluntary life insurance premiums increased by 18%

The data unveiled on premiums and payments on voluntary life insurance in Azerbaijan.

Growth of 9% reported on voluntary insurance premiums

The volume of premiums and payments on voluntary insurance in Azerbaijan has been published.

Qala Sığorta premiums fell more than by 2 million manats

Qala Sığorta’s report on premiums and payments for Jan-Mar 2024 has been published.

Amount of insurance premiums grew by 8% in 3 months

Over Jan-Mar 2024, 17 insurance companies of Azerbaijan collected premiums for 373,140 manats (8% more versus Jan-Mar 2023), ABC.AZ reports with reference to the Central Bank.

10 insurers do not have this resource

10 insurance companies in Azerbaijan do not have a mobile application.

Share of insurance sector in Azerbaijan's GDP is about 1%

Over the past 5 years, the insurance market in Azerbaijan has been growing by 15-18%.

Analogue of Turkish Insurance Data Center to be created in Azerbaijan

Negotiations are underway with the Turkish Insurance Data Center about creation of a similar system to support digital transformation in the insurance sector in Azerbaijan.

Taleh Kazimov: New strategy can double insurance market

The insurance market is expected to grow 2-fold in the medium-term prospect with a new strategy covering 2024-26.