Central Bank’s official: Insurance disputes upset us

We are saddened by the disputes arising in Azerbaijan between insurance companies and policyholders.

Changes to be made to cost of these services in Azerbaijan

Günay Sığorta excluded from ISB list

Naxçıvansığorta board member has left his post

Sema Mahmudlu, one of the Naxçıvansığorta board members, has left her post.

Insurers whose compensation payments increased this year

Insurers with lowered premiums for 2023

Over Jan-May 2023, the premiums of 17 out of 20 insurance companies in Azerbaijan increased against 2022 and three companies decreased

82% of premiums accounted for 5 companies

Out of AZN 566.4 million of premiums in Azerbaijan for Jan-May 2023, AZN 466.9 million, or 82.4% accounted for 5 insurance companies.

Central Bank cancels license of Gunay Sigorta

The Central Bank of Azerbaijan has cancelled the license of Günay Sığorta OJSC.

Companies that paid the largest number of compensations this year

Out of AZN 174.436 million of compensations paid in Azerbaijan for Jan-May 2023, AZN 140.96 million (or 80.8%) accounted for five insurance companies.

Central Bank has warned these insurance companies

Insurance agents send SMS messages to citizens that if they do not insure their property, they will be fined. However, they do not have such powers.

Mandatory real estate insurance premiums increased by 64%

Azerbaijan has recorded an increase on premiums and compensation payments for compulsory real estate insurance.

Life insurance payments increased sharply - report for 5 months

The premiums collected for Jan-May 2023 in Azerbaijan by five life insurance companies amounted to AZN 239.257 million.

Insurance market grew by 33% in Azerbaijan

The premiums by 20 insurance companies in Azerbaijan were gathered for AZN 566.434 million for Jan-May 2023 (32.8% more against Jan-May 2022)

New assignment at Xalq Həyat

The new chairman of board has been appointed at Xalq Həyat OJSC.

Certification to be carried out for insurance brokers

Certification in the insurance sector will take place on June 21.

Expert's statement about difficulties with compulsory car insurance

Expert’s interesting approach: This is main problem of insurance market

The biggest problem in the insurance market as a whole is unreliability, expert Oruj Ibragimov stated to ABC.AZ, when commenting on the stagnation in the insurance market.

Insurance companies with the lowest level of service — List

The "complaints index" on compulsory civil liability insurance of motor vehicle owners became known in May, ABC.AZ reports with reference to the Central Bank.

Expert: Cancellation of Compulsory Insurance Bureau may have huge resonance in our country

New assignment at Meqa Həyat Sığorta

The new appointment in the management of Meqa Həyat Sığorta has taken place.

Licenses of 2 insurance mediators cancelled in Azerbaijan