Azerbaijan, Baku, July 12/ Trend E. Aliyev
Over two-thirds (more than 129.5 million manats) of Azerbaijani insurance companies' premiums were collected on types of voluntary property insurance in January-June of 2013. Payments on those types were estimated at 41, 02 million manats (more than 70 per cent from all recoveries)
The information was given in a report by the State Insurance Supervision Service under the Ministry of Finance of the country published on its website on Tuesday.
In the structure of charges on voluntary property insurance, a considerable part was on transport insurance to the sum of 26.53 million manats with payments of 12.43 million manats, air transport- 4.66 million manats without payments, as well as on insurance of property from fire and other risks- 17.8 million manats with payments of 2.02 million manats and cargo insurance- 7.33 million manats with payments of 85.03 million manats.
Liability insurance cost was estimated 7.14 million manats with payments of 0.34 million manats in the first half of 2013.
Personal insurance premium costs were estimated 45.02 million manats with payments of 22.61 million manats. Moreover, charges on accident and disease insurance was estimated at 4.56 million manats with payments of 0,72 million manats, voluntary health insurance 40,46 million manats with payments of 21,89 million manats and insurance of citizens travelling abroad -0,75 million manats with payments of 0,13 million manats.
Charges on voluntary insurance other than life were estimated 110.58 million manats (55.8 per cent of the total premiums) with payments of 36.67 million manats (63, 1 per cent) for this period.
In total, the specific weight of premiums on all types of voluntary insurance is estimated approximately at 65.4 per cent of insurance charges in the country during January-June of 2013 and the share of recoveries at approximately 71 per cent of insurers' total payments.
The voluntary insurance market has grown to 23.06 per cent and the payments to 63.36 per cent for a year.
Total number of premiums for all the companies operating in the country is estimated at 198.02 million manats ( 16.85 per cent growth for a year) according to the results of the first half of the year and the payments for reporting period were implemented with 58,097 million manats ( 40.2 per cent of growth)
The report by the Ministry of Finance doesn't include the outcomes of activities of the only reinsurance company - AzRE.
The official course for July 12 is 0,7845 AZN/USD.