Baku, Azerbaijan, Oct. 31
By Azad Hasanli – Trend:
Non-life insurance collections amounted to almost 274.3 million manats (1.6381 AZN/USD on Oct. 31) in January-September 2016 in Azerbaijan, said the country’s Financial Markets Supervision Chamber.
The share of non-life insurance in the total volume of collections was 70.3 percent during the reporting period, according to the Chamber.
Payments on non-life insurance reached almost 102 million manats (61.05 percent of the total volume of payments).
Collections on voluntary types of non-life insurance increased by 8.9 percent during a year, while the payments by one percent. The growth on compulsory types of non-life insurance was 10.8 and 26.1 percent, respectively.
Comparative table of non-life insurance types with the highest specific weight (January- September 2016)
|
Voluntary insurance |
Insurance charges |
Specific weight (with %) |
Insurance payments |
Specific weight (with %) |
|
Health insurance |
64,021,617.82 |
23.3% |
44,921,414.41 |
45.02% |
|
Property insurance against fire and other risks |
32,095,241.73 |
11.7% |
2,641,400.10 |
2.6% |
|
Vehicle insurance |
17,463,725.47 |
6.4% |
11,108,004.99 |
10.88% |
|
Air traffic insurance |
11,948,844.21 |
4.4% |
2,247,835.98 |
2.2% |
|
General civil liability insurance |
11,107,955.06 |
4.05% |
248,553.58 |
0.25% |
|
Types of compulsory insurance |
Insurance charges |
Specific weight (with %) |
Insurance payments |
Specific weight (with %) |
|
State insurance of military servicemen |
16,506,077 |
6.02% |
7,692,085 |
7.55% |
|
State insurance for employees of law enforcement bodies and courts |
11,068,628 |
4.05% |
748,049 |
0.7% |
|
Property insurance |
19,878,774.81 |
7.25% |
1,423,920.77 |
1.4% |
|
Compulsory motor-vehicle liability insurance |
63,810,848.56 |
23.26% |
28,804,435.76 |
28.2% |
|
Total (non-life insurance) |
274,263,384.6 |
101,943,063.4 |