Non-life-insurance reduces in Azerbaijani insurance market in May

Azerbaijan , Baku , June 16 / corr Trend A . Akhundov /

There were many premiums on life insurance worth 949 , 574 manat with payments of 12,778 manat, in a structure for Life-insurance in Azerbaijan in January- May 2011, the Azerbaijani Finance Ministry reported.

Premiums on life insurance amounted to 3 94,211 manat with payments of 6 4, 496 manat.

Total premiums on voluntary life insurance amounted to 1. 344 million manat (1. 55 percent of total fees) with payments of 77,274 manat (0. 35 percent).

Major part of Non-Life insurance falls to property insurance - premiums worth 39 . 069 million manat and payments worth 10 . 499 million manat. Liability insurance hit 4 . 745 million manat with payments at 98 . 291 manat, credit insurance - 59 , 304 manat with payments worth 7 , 760 . 62 manat and mixed insurance of financial risks - 794,030 manat without payment.

Premiums for personal insurance amounted to 19 . 107 million manat with payments of 7 . 96 6 million manat. Premiums for insurance against accidents and illnesses amounted to 3.077 million manat with payments of 529 , 003 manat and health insurance 16 . 030 million manat with payments of 7.437 million manat.

Total premiums for other kind of insurance amounted to 58 . 1 7 6 million manat ( 6 7 .29 percent of the total figure) with payments at 1 8 . 465 million manat (83.2 percent).

The structure of compulsory insurance premiums on state individual insurance of military men hit 7 . 2 68 million manat with payments worth 2. 779 million manat, fire insurance - 3 . 621 million manat with payments worth 204 . 198 manat, public individual insurance of judicial staff - 1. 9 3 3 million manat with payments worth 3 0 8 , 875 manat, liability insurance of vehicle owners - 1. 849 million manat with payments worth 341 , 919 manat, insurance of civil servants - 3,30 8 manat with payments at 1, 6 9 4 manat. The structure of compulsory insurance premiums on state insurance of auditors' liability 3 , 550 manat without payment, insurance of passengers - 244,057 manat with payments of 3,600 manat, environmental insurance - 63 , 373 manat without payments

The total premiums of all companies operating in the country amounted to 8 6. 453 million manat (2 9 . 2 -percent increase), and payments - 22 . 195 million manat (1 9 . 9 -percent increase).

The report does not specify the outcome of a single reinsurance company Az RE.

Azerbaijan operates 28 insurance companies, including three Life- companies .