Azerbaijan's Insurance Sector Is Growing, Says Azerbaijan's Central Bank Chairman
Date
4/16/2024 5:12:04 AM
(MENAFN- AzerNews)
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Fatime Letifova Read more
The assets of the insurance sector in Azerbaijan have increasedby 34.2% in the last 3 years, Azernews reports,citing Taleh Kazimov, chairman of the Central Bank of Azerbaijan,as he said at the Insurtech summit held in Baku today.
"In particular, the balance capital of the sector increased by7.7%. In addition, in the last 3 years, insurance premiums in thecountry increased by 67.8% to 1 billion 223 million manats, andinsurance payments increased by 26.3% to 587 million manats. In thegross domestic product of the sector, its share has exceeded 1%.Our assessments and international comparisons show that it ispossible to increase this indicator to 2%," he said.
Recall that Baku hosted the Insurtech Forum for the first timewith Turkiye. The organiser of the forum on the Azerbaijani side isthe Azerbaijan Insurers Association, and on the Turkish side is theInsurTech Hub.
Various Turkish insurance organisations, as well as largeTurkish insurance companies, insurtechs, and insurance-financialtechnology companies, participate in the forum.
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