Baku, Azerbaijan, June 27
By Kheyraddin Nasirzade - Trend:
In January-May this year, Azerbaijani insurance companies collected premiums worth 319.272 million manats, which is 9 percent less than in the same period last year, Trend reports with reference to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
In the market of voluntary types of insurance, the volume of premiums decreased by 16.7 percent to 212.707 million manats, the volume of compulsory types of insurance increased by 11.7 percent to 106.565 million manats.
The non-life insurance premiums amounted to 203.02 million manats, which is 5.2 percent more than in the same period last year. The bulk of the fees accounted for voluntary health insurance - up to 63.773 million manats (increase by almost 20 percent), survival insurance - 73.035 million manats (decrease by 35.5 percent), compulsory motor TPL insurance - 38.046 million manats (growth by 8.9 percent).
During the reporting period, payments of insurers amounted to 93.777 million manats, which is 3.8 percent less than in the same period last year. The amount of payments on voluntary types of insurance decreased by 8.3 percent to 64.023 million manats, which makes 68.3 percent of all payments. Compensations for compulsory types of insurance increased by 7.5 percent to 29.754 million manats.
Non-life insurance payments increased by 7.3 percent, reaching 62.68 million manats. At the same time, voluntary medical insurance payments decreased by 14.4 percent to 22.575 million manats, survival insurance - by 19.4 percent to 29.62 million manats. Payments on compulsory motor TPL insurance increased by 23.9 percent and reached 25.189 million manats.
(1.7 manats = 1 USD on June 27)