In the first quarter of 2017, Azerbaijan-based insurance companies’ premiums amounted to AZN 150,681,000, payments to AZN 60,292,000.
According to Financial Markets Supervisory Authority (FIMSA), AZN 40 was paid for each AZN 100 insurance premium, while it was AZN 35 in 2016.
Premiums on voluntary insurance market declined 4% to AZN 111,913,000, payments increased 16% to AZN 47,344,000.
Premiums on compulsory insurance market stood at AZN 38,768,000, payments increased 11% or AZN 1,315,000 to AZN 12,949,000.