Non-Life keeps leadership in Azerbaijani insurance market
Azerbaijan, Baku, Sept. 24 / Trend A.Akhundov /
There were many premiums on life insurance worth 601,190 manat with payments at 207,26 manat, in a structure for Life-insurance in Azerbaijan in January-August of 2010, the Azerbaijani Finance Ministry reported.
Total premiums for other kind of insurance amounted to 962,21 million manat with payments at 251,11 million manat.
Major part of Non-Life insurance falls to property insurance - premiums worth 57,87 million manat and payments worth 12,670 million manat. Individual insurance premiums hit 22,16 million manat with payments worth 12,380 million manat, liability insurance - 7.03 million manat with payments at 119,220 manat, credit insurance - 163,490 manat with payments worth 241,22 manat.
The structure of compulsory insurance premiums on state individual insurance of military men hit 10.68 million manat with payments worth 4.48 million manat, fire insurance - 5.2 million manat million with payments worth 149,590 manat, public individual insurance of judicial staff - 2.99 million manat with payments at 529,250 manat, liability insurance of vehicle owners - 2.58 million manat with payments at 431,540 manat, insurance of civil servants - 96,650 manat with payments at 10,400 manat.
Total premiums for compulsory insurance for the reporting period totaled 22.08 million manat with payments at 5.61 million manat.
Total premiums decreased by 15.98 percent (122,67 million manat), payments reduced by 8.89 percent (33.94 million manat).
The ministry's report for January-August does not reflect the results of the reinsurance company Az RE.
The official exchange rate is 0.8030 manat to $1 on September 24.