Central Bank revokes licenses of 29 insurance agents

The Central Bank of Azerbaijan has revoked licenses of 29 individuals for activity as insurance agents.

List of insurance companies with good position

In order to increase consumer awareness in the field of compulsory auto insurance and fair behavior of insurers towards consumers, it was decided to publish a “complaints index” calculated on complaints received by the Central Bank.

Names of insurers that can work within Green Card system published

The Bureau of Compulsory Insurance has published the names of insurance companies entitled to operate within the Green Card system.

Over past 8 months, 84% of compensations were paid by 5 companies

Out of AZN 283.67 million of compensations paid in Azerbaijan for Jan-Aug 2022, AZN 238.216 million or 84% accounted for 5 insurance companies.

List of insurers with the least premiums for Jan-Aug

Out of AZN 654.918 million of premiums gathered by the insurers in Azerbaijan for Jan-Aug 2022, AZN 522.249 million or 79.8% accounted for 5 insurance companies.

Net profit of Azerbaijani insurance sector increased 1.7-fold

Over Jan-Jun 2022, the net profit of the insurance sector of Azerbaijan (including insurance, reinsurance and brokerage companies) amounted to AZN 73.48 million (1.7-fold more versus Jan-Jun 2021)

Premiums on this type of insurance increased – Details

The premiums on compulsory state social insurance for the past 8 months of 2022 amounted to AZN 2.948 bn and on unemployment insurance – AZN 103.2 million.

New chairman appointed at AtaSigorta

Khatai Ismailov, acting chairman of board at AtaSigorta, has been confirmed as the chairman.

Sale of Azsigorta insurance policies limited

Premiums on these types of insurance must be paid immediately

The State Tax Service has made an appeal in connection with the payment of insurance premiums.

Central Bank revokes licenses of 4 insurance agents

Central Bank froze licenses of 51 insurance agents

The Central Bank has temporarily frozen the licenses of 51 insurance agents.

Insurers to be certified

Certification in the field of insurance will take place on 9, 12 and 13 September.

Has Atasigorta’s chairman been dismissed?

Atasigorta’s chairman of board Orkhan Mammadov has left the company, ABC.AZ reports with reference to the insurer.

Günay Sığorta's total assets drop by 8%

Günay Sığorta suffers losses for second consecutive year

Günay Sığorta OJSC suffers losses for the second consecutive year.

Companies with lowest insurance payments in 7 months - List

13 insurance companies increase payouts

According to the results of January-July 2022, payments from 13 out of 20 insurance companies in Azerbaijan increased year-on-year.

Companies that collected most insurance premiums in 6 months - List

In January-July 2022, insurance premiums in the amount of 580.501 million manats were collected in Azerbaijan. Of these, 463.907 million or 80% fell on the share of five insurance companies.

Premiums on voluntary types of insurance increase over 7 months

In January-July 2022, premiums due to voluntary insurance in Azerbaijan amounted to 438.71 million manats.

Amount of insurance premiums collected from 20 companies revealed

During January-July 2022, twenty insurance companies in Azerbaijan collected insurance premiums in the amount of 580.501 million manats.