FIMSA: Insurance premiums and payments increased by 50% compared to past five years

"Compared to previous years, insurance payments declined in Azerbaijan. This is related to life insurance. Insurance premiums and payments increased by 50% or AZN 420 million in comparison to past five years," head of Department of Control on Insurance Activity Firdovsi Aghashirinov said at the Azerbaijan International Insurance Forum AIIF-2019 on the theme of "Insurance in Azerbaijan: Trends & Opportunities".

"Currently, the share of insurance charges in non-oil GDP makes up 1.6% or 0.91% in GDP. Per capita insurance fee is AZN 73, while this figure was AZN 46 in 2015," he said.