AZERBAIJAN: the market y-o-y growth exceeded 33% as of the end of October

GWP of Azerbaijani insurance companies in January-October 2018 amounted to AZN 617.2 million (+33.4% y-o-y), according to the report of Azerbaijan's Financial Market Supervisory Authority (FIMSA).

While the market premiums went up significantly, paid claims, on the other hand, for the same period increased only by 0.6% (AZN 205.9 million).

73% of GWP (AZN 450.8 million) were generated by voluntary insurance and 27% (AZN 166.4 million) were collected by mandatory classes. The structure of the paid claims is as follows: insurers paid 72.7% in voluntary insurance (AZN 166.4 million) and 27.3% - in mandatory insurance segment (AZN 56.2 million).

*EUR 1 = AZN 1.9281 (31.10.2018)

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