Namik Khalilov, head of Azerbaijan's State Insurance Supervision Service, has said the country's insurance market growth could reach 15-20% in 2014, Forinsurer reported citing Interfax.

This means premiums could total around 465.5 million Azerbaijani manats ($593.5 million) by the end of 2014, taking into account AZN 405.7 million ($517.1 million) in premiums reported in 2013.

The premium growth is expected from both voluntary and compulsory insurance.

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