Non-life Remains Leader on Insurance Premiums in Azerbaijan in Jan-Sept

Business Materials 5 December 2008 15:41 (UTC +04:00)

Azerbaijan, Baku, 5 Dec / Trend corr. U.Ismaylova / The premiums of the insurance companies of Azerbaijan in Jan to Sept increased by 42.8% as compared to the same period of 2007, the Finance Ministry of Azerbaijan said on 5 Dec.

In Jan - Sept AZN 1.5mln fell on Life insurance, which 188.5% exceeds the indices of the same period of last year (AZN 0.52mln in 2007) and AZN 128.6 mln on Non-life insurance, an increase of 46.5 % (AZN 87.78mln). AZN 16.28mln fell on obligatory insurance, an increase of 14.2% (AZN 14.26mln).

The insurance payments for the year increased by 45.2 %, totaling AZN 36.82 mln (AZN 25.35mln in 2007).

For three quarters, the insurance payments on Life insurance reached AZN 0.29mln, an increase of 93.3% (AZN 0.15mln).

Payments on Non-life insurance amounted to AZN 28.81 mln, increasing by 41.9 % (AZN 20.30mln). Payments on obligatory insurance made up AZN 7.72mln, an increase of 57.6 % (AZN 4.90mln).

Currently 28 insurance companies and one re-insurance company function in Azerbaijan.

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