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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Azeri non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Azerbaijan's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Azeri non-life (P&C) market as well as trends by line of business. Axco analysts also report on Azerbaijan's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Azeri insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Azerbaijan, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Azerbaijan, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Azerbaijan with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Azerbaijan's non-life market was ranked 109th globally in 2019 and could be considered a small to medium-sized emerging market. As in some other post-Soviet economies, insurance culture and product penetration remains quite low, especially in the consumer segment, but the government has been diversifying the economy to be less reliant on the hydrocarbons sectors and supporting service industries including insurance.
In 2019 the non-life market gross premiums ....
This is a brief extract of information; more updated information may be available in the latest published report.