Baku, Azerbaijan, May 31
By Anvar Mammadov – Trend:
Non-life insurance premiums amounted to 125.09 million manats in Azerbaijan in January-April 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 64.4 percent in the period.
Payment of claims on non-life insurance reached 36.68 million manats (48.7 percent of all payments).
Comparative table of non-life insurance types with the biggest share on premiums (January-April 2017)
|
Voluntary types of insurance |
Insurance premiums (mln manats) |
Specific weight (%) |
Payment of claims (mln manats) |
Specific weight (%) |
|
Medical insurance |
47.39 |
37.87 |
13.37 |
36.47 |
|
Property insurance against fires and other risks |
8.75 |
6.99 |
0.74 |
2.01 |
|
Vehicle Insurance |
7.69 |
6.15 |
3.71 |
10.13 |
|
Insurance of air transportation |
5.38 |
4.3 |
- |
- |
|
General Liability Insurance |
4.64 |
3.71 |
0.31 |
0.85 |
|
Compulsory types of insurance |
Insurance premiums (mln manats) |
Specific weight (%) |
Payment of claims (mln manats) |
Specific weight (%) |
|
State insurance of servicemen |
2.35 |
1.88 |
1.38 |
3.77 |
|
State insurance of employees of law enforcement agencies and courts |
3.14 |
2.51 |
0.52 |
1.41 |
|
Property insurance |
7.37 |
5.89 |
1.25 |
3.4 |
|
Compulsory insurance of civil liability of vehicle owners |
25.6 |
20.47 |
13.39 |
36.5 |
|
TOTAL (non-life insurance) |
125.09 |
- |
36.68 |
- |
One reinsurance and 21 insurance companies operate in Azerbaijan.
(1.702 manats = $1 on May 31)