Share of premiums on Life-insurance in Azerbaijan hits 0.7 percent
Azerbaijan, Baku, Feb. 24 / Trend U.Ismayilova /
There were many premiums on life insurance worth 89,960 manat with payments at 3,460 manat, in a structure for Life-insurance in Azerbaijan in January 2011, the Azerbaijani Finance Ministry reported.
Premiums on life insurance amounted to 35,360 manat without payments
Total premiums on life insurance amounted to 125,326 manat (0.7 percent of total fees) with payments of 3.460 manat (0.09 percent).
Major part of Non-Life insurance falls to property insurance - premiums worth 12.215 million manat and payments worth 2.03 million manat. Liability insurance hit 2.928 million manat with payments at 22,246 manat, credit insurance - 16,488 manat with payments worth 5,240 manat and mixed insurance of financial risks - 24,530 manat without payment.
Premiums for personal insurance amounted to 3.968 million manat with payments of 1.02 million manat. Premiums for insurance against accidents and illnesses amounted to 458,540 manat manat with payments of 112,570 and health insurance 3.509 million manat with payments of 0.904 million manat.
Total premiums for other kind of insurance amounted to 16.183 million manat (90.21 percent) with payments at 3.042 million manat (86.37 percent).
The structure of compulsory insurance premiums on state individual insurance of military men hit 31,790 manat with payments worth 392,600 manat, fire insurance - 539,390 manat million with payments 8,180 manat, public individual insurance of judicial staff - 399,030 manat with payments at 35,880 manat, liability insurance of vehicle owners - 311,810 manat with payments at 36,990 manat, insurance of civil servants - 221,000 manat with payments at 1,100 manat.
Total premiums for compulsory insurance for the report period totaled 1.63 million manat (9.9 percent) with payments at 476,750 manat (13.54 percent).
The total premiums of all companies operating in the country amounted to 17.939 million manat, and payments - 3.522 million manat. Total premiums decreased by 5.18 percent and payments grew by 22.7 percent.
The report for 2010 does not specify the outcome of a single reinsurance company Az RE.