Azerbaijan to create temporary administration in insurance sector

Azerbaijan to create temporary administration in insurance sector
  • Clock-gray 08:46
  • calendar-gray 20 June 2018

‘We submitted a proposal to the government on creation of temporary administration in the insurance sector’, the executive director of Azerbaijan's Financial Markets Supervisory Authority (FIMSA), Ibrahim Alishov said at the 6th Insurance Conference held in Baku.

 

According to him, the administration will prevent fluctuations in the insurance sector: ‘In general, formation of macroeconomic environment in Azerbaijan caused increase of insurance premiums by 47% to AZN 352 million in the five months. Of this, 73% came from voluntary insurance types, 27% - from compulsory insurance types’. 

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