Baku, Azerbaijan, Oct. 27
By Anvar Mammadov – Trend:
Non-life insurance premiums amounted to 262.15 million manats in Azerbaijan in January-September 2017, the country’s Financial Market Supervisory Authority (FIMSA) said.
FIMSA said the share of non-life insurance in the total volume of premiums was 63.3 percent during the reporting period.
Payment of claims on non-life insurance reached 97.31 million manats (51.6 percent of all payments).
Comparative table of non-life insurance types with the biggest share on premiums (January-September 2017)
|
Voluntary types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
Medical insurance |
64,981,929.26 |
24.8 |
42,117,391.83 |
43.3 |
|
Property insurance against fires and other risks |
29,426,052.07 |
11.2 |
1,956,136.64 |
2 |
|
Vehicle Insurance |
16,894,267.56 |
6.4 |
8,370,906.93 |
8.6 |
|
Insurance of air transportation |
10,369,001.53 |
4 |
15,594 |
0.02 |
|
General Liability Insurance |
8,280,028.35 |
3.2 |
658,732.98 |
0.7 |
|
Compulsory types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
State insurance of servicemen |
5,603,364 |
2.1 |
3,270,450 |
3.4 |
|
State insurance of employees of law enforcement agencies and courts |
7,416,345 |
2.8 |
1,041,742 |
1.1 |
|
Property insurance |
19,079,485.08 |
7.3 |
2,353,539.39 |
2.4 |
|
Compulsory insurance of civil liability of vehicle owners |
71,877,752.01 |
27.4 |
31,945,613.98 |
32.8 |
|
TOTAL (non-life insurance) |
262,145,344.9 |
- |
97,307,785.98 |
- |
One re-insurance and 22 insurance companies operate in Azerbaijan.
(1.7002 AZN = $1 on Oct. 27)