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Non-Life remains leader of Azerbaijani insurance market

Business Materials 22 July 2009 19:05 (UTC +04:00)

Azerbaijan, Baku, July 22 / Trend U. Ismayilova/

In January-June, considerable part of the Azerbaijani insurance companies' premiums on Life fell to insurance from accidental death - 235,300 manats with 125,000 manats of payments. Life insurance hit 64,260 manats with 136,770 manats of payments, the Azerbaijani Finance Ministry said on July 22.

Total volume of premiums on Life insurance was 397,990 manat with 261,770 manat of payments.

Majority of Non-Life insurance comprises: private insurance - 15.69 million manat with 5.57 million manats of payment, property insurance - 49.44 million manat with 11,150 million manat of payment, including premiums from civil liability insurance - 7,58 million manat with 173.64 manat of payments, loan insurance - 364,010 manat with 213,350 manat of payment, as well as insurance of mixed finance risks - 5,230 manat without payments.

Total volume of other types of insurance was 65,137 million manat with 18.61 million manat of payments, rather than life insurance.

Majority of obligatory insurance includes premiums from military insurance - 8.46 million manats with 5,03 million manat of payment, as well as fire insurance - 1.87 million manat with 31,280 manat of payments and vehicle insurance - 1.72 million manat with over 366,000 manat payments, insurance of juridical and legal body employees- 1.71 million manat with over 321,970 manat payments, MPs insurance - 92,510 without payments, state employees insurance - 120,310 with 8,970 manat payments, etc. 

Total amount of premiums on obligatory types of insurance was 114.35 million manat with 5.77 million manat of payments in this period.  

In January-June, premiums of 28 Azerbaijani insurance companies made up more than 79.89 million manat with 24.67 million manat of payments.

On July 22, the official exchange rate is 0.8042 manat to $1.

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