Azeri insurers have collected AZN 11 million for MTPL contracts in the first half of 2017

At the end of June 2017, 133,148 contracts on compulsory MTPL were registered in the Azeri Compulsory Insurance Bureau's information system, more by 58% than in 1H2016.

14,797 of the contracts were related with the motor vehicles registered abroad and being in the territory of Azerbaijan on transit. The amount of insurance premiums collected by insurance companies on standard and border insurance agreements made AZN 10.92 million for the reporting period. Compared to the relevant term of 2016, the volume of collected premiums grew by 63%.

Since 1st November 2016 the process of conclusion of compulsory motor insurance contracts has become electronic. The paper agreements entered into prior to that date will be in force till their closing date.

Related articles

Tougher controls of the MTPL insurance in Azerbaijan

The Azeri Financial Market Supervisory Authority (FIMSA), Ministry of Internal Affairs (MIA) and Compulsory Insurance Bureau (CIB) have concluded an agreement for exchanging information on the MTPL insurance.

2017-06-06

AzRe's A.M. Best rating affirmed

A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan). The outlook of these Credit Ratings (ratings) remains stable.

2016-10-21

ON THE MOVE

TOP EVENT

VIDEO: GIF 2017, LONDON: HRH The Prince of Wales welcome address

"Insurers have to play an important part not only in managing current risks, but also in modelling the future by contributing to a better understanding of risks, to closing the insurance gap and setting an example of responsible investment policy," HRH The Prince of Wales said in his welcome address at GIF 2017.

20.07.2017

See all