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The Insurance Industry in Azerbaijan, Key Trends and Opportunities to 2019

  • July 2015
  • -
  • Timetric
  • -
  • 132 pages

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Synopsis
Timetric’s ' The Insurance Industry in Azerbaijan, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Azerbaijani insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019). The report also analyzes detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary
The report provides in-depth market analysis, information and insights into the Azerbaijani insurance industry, including:

- The Azerbaijani insurance industry's growth prospects by segment and category

- Key trends, drivers and challenges in the Azerbaijani insurance industry

- The detailed competitive landscape in the Azerbaijani insurance industry

- Detailed regulatory policies of the Azerbaijani insurance industry

Scope
This report provides a comprehensive analysis of the insurance industry in Azerbaijan:

- It provides historical values for the Azerbaijani insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Azerbaijani insurance industry, along with market forecasts until 2018.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It profiles the top insurance companies in Azerbaijan and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Azerbaijani insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Azerbaijani insurance industry.

- Assess the competitive dynamics in the Azerbaijani insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Azerbaijani insurance industry and their impact on companies and the industry's future.

Key Highlights
- The Azerbaijani insurance industry grew in terms of gross written premium at a review-period CAGR of 28.9%.

- The insurance industry in Azerbaijan is regulated by the State Insurance Supervision Service (SISS).

- According to amendments to the Law on Insurance Activity in 2014, the SISS increased the minimum capital requirement for insurers and reinsurers.

- Non-life insurance accounted for 55.9% of the total insurance gross written premium in 2014.

- Motor insurance was the largest category in the segment in terms of gross written premium during the review period.

- Growth in compulsory insurance to support overall industry growth.

- As of 2014, the Azerbaijani insurance industry comprised 28 insurers and one reinsurer.

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