OREANDA-NEWS. May 04, 2010. Namig Khalilov, the head of the MoF Insurance Supervision Service, informs that activity in insurers’ work will be observed this year.

“Insurers start adapting gradually to new conditions of activity at the market. It seems to me that in the following quarters of 2010, as well as in the past first quarter, we will observe growth of financial indicators of insurance companies. I think that insurance sector’ overall premiums in 2010 will hardly be less than the last year’s index,” he said.

As of 1st April 2010 overall premiums in Azerbaijani insurance sector were at the level of AZN 44.4 million (\\$55.3 million), with rise of 49.8% for the last month and 0.4% year-on-year.

The country is numbering totally 27 insurance companies.