Baku, Azerbaijan, Sept. 12
By Anvar Mammadov – Trend:
Non-life insurance premiums amounted to 204.94 million manats in Azerbaijan in January-July 2017, the country’s Financial Market Supervisory Authority (FIMSA) said Sept. 12.
FIMSA said the share of non-life insurance in the total volume of premiums was 63.5 percent during the reporting period.
Payment of claims on non-life insurance reached 73.26 million manats (50.9 percent of all payments).
Comparative table of non-life insurance types with the biggest share on premiums (January-July 2017)
|
Voluntary types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
Medical insurance |
54,965,031.23 |
26.8 |
30,063,065.14 |
41 |
|
Property insurance against fires and other risks |
19,018,723.96 |
9.3 |
1,520,403.43 |
2.1 |
|
Vehicle Insurance |
12,230,461.35 |
5.97 |
6,576,655.02 |
8.98 |
|
Insurance of air transportation |
10,089,647.67 |
4.9 |
15,594 |
0.02 |
|
General Liability Insurance |
7,160,362.9 |
3.5 |
506,292.9 |
0.7 |
|
Compulsory types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
State insurance of servicemen |
3,712,204 |
1.8 |
2,688,000 |
3.7 |
|
State insurance of employees of law enforcement agencies and courts |
4,054,580 |
1.98 |
857,261 |
1.2 |
|
Property insurance |
14,292,343.97 |
6.97 |
2,024,197.25 |
2.8 |
|
Compulsory insurance of civil liability of vehicle owners |
55,449,138.15 |
27.1 |
23,688,472.73 |
32.3 |
|
TOTAL (non-life insurance) |
204,937,250.14 |
100 |
73,260,530.28 |
100 |
One re-insurance and 22 insurance companies operate in Azerbaijan.