Voluntary property insurance accounts for about third of Azerbaijani market
Azerbaijan, Baku, Aug.8 /Trend A.Akhundov/
In January-June 2012, some 28.71 percent of the premiums of insurance companies of Azerbaijan, or 48.65 million manat, were collected on types of voluntary insurance of the property. Payments for these types amounted to 13.75 million manat, which is 33.17 percent of all refunds, the Azerbaijani Finance Ministry said.
In the structure of charges on voluntary property insurance most were the vehicles insurance premiums of 26.598 million manat with payments of 10.456 million manat, as well as property insurance against fire and other risks - 12.788 million manat with payments of 1.43 million manat, cargo insurance - 7.93 million manat with payments of 0.13 million manat, etc.
Liability insurance in January-June 2012 accounts for 4.84 million manat with payments of 1.48 million manat, credit insurance - 0.034 million manat with payments of 0.012 million manat.
Premiums for personal insurance amounted to 44.082 million manat with payments of 19.94 million manat. In particular, charges for insurance against accidents and diseases were 4.82 million manat with payments of 0.66 million manat, voluntary medical insurance - 39.26 million manat with payments of 19.28 million manat, insurance of citizens traveling abroad - 0.72 million manat with payments of 0.1 million manat.
The total volume of premiums in voluntary insurance other than life in this period amounted to 97.61 million manat (57.6 percent of total premiums) with payments of 35.178 million manat (84.89 percent).
The total volume of premiums of all companies operating in the country was, for the first five months of 2012, 169.455 million manat (growth in the year by 72.43 percent), and payments for the period, were carried out on 41.44 million manat (growth of 54.97 per cent).
The report of the Ministry of Finance of Azerbaijan in January-May 2012 didn't include information of the only reinsurance company AzRE.
There are 28 insurance companies in Azerbaijan.
Official exchange rate on Aug.8 is 0.7856 AZN/USD