Baku, Azerbaijan, Dec. 20
By Taleh Mursagulov - Trend:
In January-November 2018, the volume of the life insurance market in Azerbaijan amounted to 312.46 million manats, which is 67.49 percent more than in the same period of 2017, Trend reports referring to Azerbaijan's Financial Markets Supervisory Authority (FIMSA).
In Azerbaijan, three companies, namely, PASHA Life, Ateshgah Life and Qala Life have licenses for rendering life insurance services. These companies' share in the total fees of insurance companies in the country for the period amounted to 47.06 percent.
As of the end of November, payments of companies for all types of life insurance amounted to 93.67 million manats or almost 41.79 percent of all payments in the market. This amount decreased by 17.47 percent for the year.
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Comparative table of fees and payments for life insurance, January-November 2018 |
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|
Type of insurance |
Fees (in thousand manats) |
Share (%) |
Payments (in thousand manats) |
Share (%) |
|
Death insurance |
44,494.3 |
14.24 |
1,562.5 |
1.7 |
|
Endowment insurance |
231,565.4 |
74.11 |
89,294.8 |
95.3 |
|
Disability insurance |
3,100.5 |
1.0 |
- |
- |
|
Insurance against incurable diseases |
257.5 |
0.08 |
- |
- |
|
Compulsory insurance against disability at work |
33,039 |
10.6 |
2,812.6 |
3 |