Baku, Azerbaijan, Jan. 16
By Azad Hasanli – Trend:
Non-life insurance premiums amounted to 345.85 million manats in Azerbaijan in 2017, which is 2 percent more than in 2016, according to a report of the Financial Market Supervisory Authority (FIMSA).
The report says the share of non-life insurance in total premiums was 62 percent during the period.
Payment of claims on non-life insurance reached 126.5 million manats (49 percent of all payments). The figure decreased by 11.1 percent during the year.
|
Voluntary types of insurance |
Insurance premiums (manats) |
Specific weight (%) |
Payment of claims (manats) |
Specific weight (%) |
|
Medical insurance |
83,165,692.02 |
24.05 |
53,002,789.25 |
41.89 |
|
Property insurance against fire and other risks |
37,813,447.92 |
10.93 |
2,214,389.85 |
1.7 |
|
Vehicle insurance |
22,546,881.1 |
6.5 |
10,873,820.43 |
8.59 |
|
Insurance of air transportation |
10,561,901.2 |
3.05 |
- |
- |
|
General Liability Insurance |
10,229,187.04 |
2.96 |
1,070,441.17 |
0.085 |
|
State insurance of servicemen |
15,147,674 |
4.38 |
4,482,960 |
3.54 |
|
State insurance of employees of law enforcement agencies and courts |
12,260,440 |
3.55 |
1,360,077 |
1.07 |
|
Property insurance |
27,928,380.98 |
8.08 |
2,828,107.21 |
2.2 |
|
Compulsory insurance of civil liability of vehicle owners |
92,604,047.37 |
73.2 |
44,763,625.4 |
35.38 |
|
TOTAL (non-life insurance) |
345,845,408.06 |
- |
126,476,275.18 |
- |
One re-insurance and 21 insurance companies operate in Azerbaijan.
(1.7001 manats = $1 on Jan. 16)