Non-Life leads on Azerbaijani insurance market

Non-Life leads on Azerbaijani insurance market

Azerbaijan, Baku, Sept. 8 / Trend , U.Ismayilova/

In January-July, considerable part of the Azerbaijani insurance companies' premiums on Life fell to insurance from accidental death - 261,410 manats (59.7 percent) with 131.840 manats of payments, the Azerbaijani Finance Ministry reported on Sept. 8.

Premiums on annuity insurance totaled 78,240 manat with payments worth 155,640 manat.

Total volume of premiums on Life insurance was 438,080 manat with 287,480 manat of payments.

Majority of Non-Life insurance comprises: property insurance - 75.43 million manat with 13.16 million manat of payment, private insurance - 17.88 million manat with 8.88 million manats of payment, including premiums from civil liability insurance - 27.044 million manat with 563,900 manat of payments, as well as loan insurance - 439,250 manat without payments.

Total volume of other types of insurance was 93.313 million manat (82.6 percent) with 22.039 million manat of payments (75.5 percent), rather than life insurance.

Majority of obligatory insurance includes premiums from military insurance - 11.906 million manats with 5.94 million manat of payment, as well as fire insurance - 2.101 million manat with 30,330 manat of payments, insurance of juridical and legal body employees- 2.45 million manat with 416,250 manat payments and vehicle insurance - 2.1 million manat with 458,440 manat payments, insurance of parliamentarians - 92,510 manat without payments, insurance of public servants - 124,140 manat with 15,290 manat of payments and others.

Total amount of premiums on obligatory types of insurance was 19.27 million manat with 6.86 million manat of payments in this period.  

In January-July, premiums of Azerbaijani insurance companies made up 113.02 million manat with 29.19 million manat of payments.

On Sept. 8, the official exchange rate is 0.8037 manat to $1.

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