Non-Life remains leader of Azerbaijani insurance market

Business Materials 14 July 2010 16:28 (UTC +04:00)

Azerbaijan, Baku, July 14 / Trend U.Ismayilova /

There were many premiums on life insurance worth 151,404 manat with payments at 136,190 manat, in a structure for Life-insurance in Azerbaijan in January-June of 2010, the Azerbaijani Finance Ministry reported. Premiums on life insurance amounted to 69,920 manat with payments at 28,460 manat.

Total premiums on life insurance amounted to 221,320 manat with payments at 164,650 manat.

Major part of Non-Life insurance falls to property insurance - premiums worth 38.62 million manat and payments worth 8.29 million manat. Individual insurance premiums hit 16.41 million manat with payments worth 7.52 million manat, liability insurance - 5.85 million manat with payments at 62,360 manat, credit insurance - 81,150 manat with payments worth 182,060 manat.

Total premiums for other kind of insurance amounted to 55.03 million manat with payments at 15.82 million manat.

The structure of compulsory insurance premiums on state individual insurance of military men hit 6.85 million manat with payments worth 3.23 million manat, fire insurance - 3.62 million manat million with payments worth 35,830 manat, public individual insurance of judicial staff - 2.01 million manat with payments at 346,710 manat, liability insurance of vehicle owners - 1.76 million manat with payments at 245,350 manat, insurance of civil servants - 69,930 manat with payments at 7,830 manat.

Total premiums for compulsory insurance for the reporting period totaled 14.66 million manat with payments at 3.96 million manat.

The total premiums of all companies operating in the country is 76.88 million manat, and payments - 22.49 million manat. Total premiums decreased by 3.77 percent (79.89 million manat), payments reduced by 6.79 percent (24.56 million manat).

The official exchange rate is 0.8037 manat to $1 July 14.

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