Baku, Azerbaijan, May 1
By Anvar Mammadov – Trend:
Non-life insurance premiums amounted to 106.12 million manats in Azerbaijan in January-March 2017, said the country’s Financial Market Supervisory Authority (FIMSA).
FIMSA said the share of non-life insurance in the total volume of premiums was 70.4 percent in the period.
Payment of claims on non-life insurance reached 28.5 million manats (47.3 percent of all payments).
Comparative table of non-life insurance types with the biggest share on premiums (January-March 2017)
|
Voluntary types of insurance |
Insurance premiums (mln manats) |
Specific weight (%) |
Payment of claims (mln manats) |
Specific weight (%) |
|
Medical insurance |
44.52 |
41.98 |
11.51 |
40.39 |
|
Property insurance against fires and other risks |
7.17 |
6.76 |
0.64 |
2.26 |
|
Vehicle Insurance |
6.09 |
5.74 |
2.77 |
9.73 |
|
Insurance of air transportation |
4.72 |
4.45 |
- |
- |
|
General Liability Insurance |
4.17 |
3.93 |
0.31 |
1.09 |
|
Compulsory types of insurance |
Insurance premiums (mln manats) |
Specific weight (%) |
Payment of claims (mln manats) |
Specific weight (%) |
|
State insurance of servicemen |
2.31 |
2.17 |
0.81 |
2.83 |
|
State insurance of employees of law enforcement agencies and courts |
2.58 |
2.43 |
0.34 |
1,2 |
|
Property insurance |
5.9 |
5.56 |
1.07 |
3.74 |
|
Compulsory insurance of civil liability of vehicle owners |
17.46 |
16.46 |
9.93 |
34.84 |
|
TOTAL (non-life insurance) |
106.12 |
- |
28.5 |
- |
One reinsurance and 21 insurance companies operate in Azerbaijan.
(1.7025 manats = $1 on May 1)