Azerbaijan’s voluntary insurance market increases by nearly half

Azerbaijan, Baku, Feb. 18 / Trend A.Akhundov /

In January 2013, over 20 percent (or 10.9 million manat) of Azerbaijani insurance companies' premiums were collected in voluntary property insurance. The payments for these types hit 2.12 million manat, or over 30 percent of total compensations.

This is stated in the report of the State Insurance Supervision Service under the Ministry of Finance, published on its website.

There were mainly premiums on vehicle insurance in the structure of fees for voluntary property insurance. They hit 3.81 million manat with payments worth 1.96 million manat. The premiums on air transport insurance amounted to 3.67 million manat without payments, onproperty insurance against fire and other risks hit 1.81 million manat with 0.13 million manat payments, cargo insurance - 0.95 million manat with payments of 2,300 manat, etc.
Some 3.38 million manat with payments of 0.12 million manat fell to liability insurance in 2012, whereas premiums on credit insurance hit 3,920 n manat without payments.

The premiums on private insurance totaled 27.27 million manat with payments of 2.23 million manat. The fees on insurance against accidents and illness hit 0.68 million manat with payments of 0.08 million manat, voluntary medical insurance - 25.69 million manat with payments of 2.15 million manat, insurance of citizens traveling abroad - 0.1 million manat with payments at 0.017 million manat.

The fees on voluntary insurance differing from life in this period amounted to 41.55 million manat (77.1 percent of total volume of premiums) with payments of 4.47 million (63.86 percent).

In general, the share of premiums for all types of voluntary insurance totaled 90 percent of the insurance premiums in the country in January 2013, and the share of compensation hit 65 percent of insurers' total payments. The voluntary insurance market increased by 44.67 percent, and payments - by 12.9 percent per year.

Total premiums of all companies operating in the country hit 53.92 million as of January 2013 (annual growth of 45.72 percent), and payments made during the period hit 7 million manat (an increase of 59 percent).

The report of the Azerbaijani Finance Ministry did not include the results of the only reinsurance company AzRE's activity.

There are 28 insurance companies in Azerbaijan.

The official exchange rate for Feb.18 is 0.7847 AZN / USD.

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
Latest
Brazil exceeds 140,000 deaths from COVID-19
124 illegal immigrants rescued off Libyan coast: UN
Seventeen more coronavirus patients die in Moscow in past day — crisis center
U.S. COVID-19 cases surpass 7 mln -- Johns Hopkins University
FAA chief set to conduct 737 MAX evaluation flight next week
UK pledges over $400 million for WHO, calls for end to 'ugly rifts'
Military plane crashes in Ukraine, killing 22
UAE reports 1,008 new COVID-19 cases, 89,540 in total
Turkmen textile company reveales production volume
Coronavirus cases pass half-million mark in France
Kazakhstan's export to Romania decreases amid COVID-19
TRT World aires documentary on devastating effects of Armenian-Azerbaijani conflict (VIDEO)
Inflow of Turkish labor migrants to France plunges to record low
Iran's trade with EU declines
Google to block election ads after November 3
Police officer shot dead at custody centre in London
Turkmen textile company talks impact of COVID-19 on exports
Level of dollarization on individuals' bank deposits in Azerbaijan increase
Georgia reveals volume of processed grapes as of Sept.25
Rise in COVID-19 cases in Turkey now under control, health minister assures
Azerbaijani president: According to our intelligence, very serious military training under way
President Ilham Aliyev: Armenia is preparing for war
President Ilham Aliyev: Region has not become a safer place, unfortunately, situation is deteriorating
US embassy in Azerbaijan urges to reconsider non-essential travel outside Absheron Peninsula
Global COVID-19 death toll could hit two million before vaccine in wide use: WHO
'Intellectual Field' to allow stabilize production level in Kazakhstan
Iran's auto giants to talk over hybrid vehicles production
Azerbaijani ministry discloses volume of toxic emissions from cars
Georgian expert: Armenian authorities controlling separatist regime in Karabakh crossed red line
Azerbaijani minister of economy reviews activity of industrial enterprises in Ganja (PHOTO)
Volume of maritime cargo transshipment from Portugal via Turkey disclosed
Tactical-special and combat training classes underway in Azerbaijan (PHOTO/VİDEO)
EBRD and FAO to assist Georgia in field of agro tourism
Uzbekistan to be supplied with Russian coronavirus vaccines
Uzbekistan, Tajikistan to maintain Uzbek energy and water resources balance
Azerbaijan’s Bakcell preparing discounts for teachers within project
UK study shows rapid test has diagnostic sensitivity over 99%
Kazakhstan's grain export volume revealed
Amazon hiring 150 employees in Israel
Baku Higher Oil School on top of grade ranking among universities in Azerbaijan
Mortgage lending via state line in Azerbaijan up
Russia leading exporter of polymer products to Turkmenistan
Volume of deposits up in Georgia
September occupancies up in Georgian regional hotels
Kazakhstan, Azerbaijan strengthening co-op in medical tourism
Rates of dollarization on loans and deposits up in Georgia
Volume of deposits in Azerbaijan grows
Russia increases exports of frozen vegetables to Turkmenistan
Bakcell talks about network congestion and secure internet
Azerbaijani banks increase lending to clients
Iranian government is modernizing agriculture in Tehran Province
Italy lowers import of Turkish cars
Loans and deposits, expressed as percentage of GDP, increase in Georgia
Netherlands increase export volume to Kazakhstan year-on-year
Georgian hazelnuts exports up
Azerbaijan's Anglo Asian Mining reveals 1H2020 income
Several industrial projects to be implemented in Kazakhstan's Almaty
Azerbaijan's Azexport portal to place insurance services
Sooner Armenia withdraws its armed forces from the occupied territories of Azerbaijan, sooner the conflict will be resolved (PHOTO)
Moscow reports 1,560 new coronavirus cases, highest since June 12
Azerbaijani schoolchildren perform successfully at 32nd International Olympiad in Informatics (PHOTO)
Azerbaijan confirms 137 more COVID-19 recoveries
ADB: Developed capital markets enhance financial stability in Azerbaijan
Covid-19 daily infections swell 12% to new record
Energy efficiency to be increased at Uzbek manufacturing enterprises
Shell books tanker to load crude at Libya's Zueitina oil port
Turkmenistan’s Oil Refineries extends tender for gasoline purchase
Kazakhstan's QazTech Ventures to fund Uzbek startups
Gas exports from Azerbaijan to Turkey significantly up
VTB Bank, Entrepreneurship Development Fund of Azerbaijan issuing loans to businesses
Azerbaijani FM receives ambassador of Greece
Vietnam interested in import of Azerbaijani products
EU working with Georgian partners to strengthen cybersecurity in country
Azerbaijani ministry talks introduction of contactless payment in public transport in districts
Central Bank of Azerbaijan to hold deposit auction
Azerbaijan discloses data on tobacco exports for 2019
BP: Oil demand to remain central part of energy system for next 10–15 years
Azerbaijani MP: Armenia resettling terrorists to Nagorno-Karabakh region, facts prove ASALA's presence
Apple says has always abided by Irish law as EU appeals court ruling
Precious metal prices in Azerbaijan up again after decline
Iran assigns housing units to low income
Money supply increased in Uzbekistan
Uzbekistan to export fuel diesel to Pakistan
Georgia reveals volume of premiums attracted by insurance companies
UN highlights Azerbaijani president’s speech at 75th session of UN General Assembly
Kazakhstan's largest oil pipeline company to buy power stations via tender
LNG demand to double over next 20 years
Volume of gas production by Turkmenistan’s Lebapgazchykarysh revealed
Expert talks putting Azerbaijan's domestic tourism back on its feet
Deputy FM: Rejecting proposals to resolve conflict, Armenian leadership makes negotiations meaningless
Road in border village of Azerbaijan’s Gazakh district being overhauled (PHOTO)
Israeli politician: We find Azerbaijan a good friend of Israel
Around 6,000 people internationally wanted by Russia
Buffett-following investment trust to list in London
EU Special Representative: EU has strong interest in peace, stability in South Caucasus
Georgia reports 265 new cases of coronavirus
Instagram fixes breach found by Check Point
US’ share in Azerbaijan's total imports grows
FAO provides strategic support for Uzbek Agriculture Ministry
Conference of the People’s Council of Turkmenistan was held at the high organizational level
All news