Baku, Azerbaijan, Nov. 3
By Azad Hasanli – Trend:
Azerbaijani insurance companies concluded 10,929 contracts on compulsory insurance of real estate in October 2017, premiums for which amounted to 2.2 million manats, Compulsory Insurance Bureau (ISB) of Azerbaijan said Nov. 3.
The number of contracts for this type of insurance decreased by 42 percent, while the amount of premiums increased by 25 percent in October 2017 compared to the same period of 2016.
Thus, 8,225 of 10,929 contracts on compulsory insurance of real estate accounted for residential houses and apartments, 145 - administrative buildings, 2,559 - other real estate.
In October 2017, 352 insurance contracts on compulsory insurance of civil liability were concluded in connection with the operation of real estate, while the amount of premiums reached 20,790 manats.
Two contracts on compulsory individual insurance of passengers against accidents was registered, while the amount of premiums reached 930 manats.
Currently, 13 insurance companies operate in the country in the field of compulsory insurance of real estate (OJSC Ateshgah Insurance, OJSC Standard Insurance, OJSC AtaInsurance, OJSC Xalq Insurance, OJSC PASHA Insurance, OJSC AXA MBASK, OJSC AzInsurance, State Insurance commercial company AzerInsurance, OJSC Meqa Insurance, OJSC Silkway Insurance, OJSC Azerbaijan Senaye Insurance, OJSC Qala Insurance, OJSC Gunay Insurance).
The ISB includes 16 companies, 13 of which are authorized to sell policies of compulsory insurance of real estate.
There are 22 insurance companies in Azerbaijan.
(1.7003 manats = 1$ on Nov. 3)