AZERBAIJAN: Starting November 2017 only electronic MTPL contracts will be valid

The validity period of the last paper policies on mandatory MTPL insurance expired on 31 October 2017. Thus, the MTPL policies, written out on paper forms, are completely excluded from circulation in the country, wrote the Compulsory Insurance Bureau.

It should be noted that since 1 November 2016 the process of conclusion of MTPL agreements has become electronic.

At the end of September 2017, Azeri insurers members of the Compulsory Insurance Bureau have concluded 86,186 electronic MTPL insurance agreements. Out of them, 13,920 agreements were concluded for motor vehicles registered abroad and entered into territory of Azerbaijan Republic with the aim of transit. In the reporting period, the total value of the GWP for MTPL amounted to AZN 6.83 million.

Currently, 13 insurance companies-members of Azerbaijani Compulsory Insurance Bureau, provide compulsory motor insurance policies to citizens: Ateshgah Insurance Company, Standard Insurance, AtaInsurance, Xalg Sigorta, PASHA Insurance, AXA MBASK, AzSigorta, State Insurance Company of Azerbaijan Republic, Mega Insurance, Silk Way Insurance, Azerbaijan Industry Insurance, Qala Insurance and Gunay Sıgorta.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

AZERBAIJAN: the insurance market in 2018 may reach AZN 600 million

The Azeri market will continue to grow in 2018 according to the Chairman of the Mediator Committee of the Azerbaijani Insurers Association (ASA), Hayal MAMEDHANLI. Based on his opinion, the market may reach AZN 600 million this year (AZN 30 million more than in 2017).



Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.



HOEPKE, Munich Re: I expect at least a stable renewal round in 2019

After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.



Five new XPRIMM insurance reports on the Baden Baden stands

Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.


See all