Non-life insurance premium volume in Azerbaijan revealed
Baku, Azerbaijan, Dec. 20
By Anvar Mammadov – Trend:
Non-life insurance premiums amounted to 317.68 million manats in Azerbaijan in January-November 2017, which is by 0.8 percent more than in the same period of 2016, 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 percent during the reporting period.
Payment of claims on non-life insurance reached 117.38 million manats (50.8 percent of all payments). The figure decreased by 8.2 percent for the year.
Comparative table of non-life insurance types with the biggest share on premiums (January-November 2017)
|
Voluntary types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
Medical insurance |
72,091,449.91 |
22.69 |
50,555,007.37 |
43.07 |
|
Property insurance against fires and other risks |
35,218,879.35 |
11.09 |
2,151,466.69 |
1.83 |
|
Vehicle Insurance |
20,531,368.37 |
6.46 |
10,059,787.52 |
8.57 |
|
Insurance of air transportation |
10,535,724.78 |
3.32 |
- |
- |
|
General Liability Insurance |
7,497,789.74 |
2.36 |
- |
- |
|
State insurance of servicemen |
9,635,340.85 |
3.03 |
662,517.98 |
0.56 |
|
State insurance of employees of law enforcement agencies and courts |
13,877,462.00 |
4.37 |
3,978,110.00 |
3.39 |
|
Property insurance |
11,547,118.00 |
3.63 |
1,257,142.00 |
1.07 |
|
Compulsory insurance of civil liability of vehicle owners |
24,971,535.36 |
7.86 |
2,625,158.12 |
2.24 |
|
TOTAL (non-life insurance) |
317,684,423.71 |
- |
117 380 976,16 |
- |
One re-insurance and 22 insurance companies operate in Azerbaijan.
(1.7001 manats = $1 on Dec. 20)
