Baku, Azerbaijan, Feb. 25
By Azad Hasanli - Trend:
In January 2019, the volume of the life insurance market in Azerbaijan amounted to 13.78 million manats, which is 25.4 percent less than in the same period last year, Trend reports referring to Azerbaijan's Financial Market 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 15.6 percent.
In January 2019, payments of companies for all types of life insurance amounted to 7.8 million manats or 45.65 percent of all payments in the market. This amount decreased by 31.8 percent for the year.
|
Comparative table of fees and payments for life insurance, January 2019 |
||||
|
Type of insurance |
Fees (in thousand manats) |
Share (%) |
Payments (in thousand manats) |
Share (%) |
|
Death insurance |
2,925.8 |
21.2 |
102.9 |
1.31 |
|
Endowment insurance |
8,363.5 |
60.68 |
7,339.2 |
93.7 |
|
Disability insurance |
244.5 |
1.77 |
- |
- |
|
Insurance against incurable diseases |
6.7 |
0.05 |
- |
- |
|
Compulsory insurance against disability at work |
2,242.2 |
16.27 |
390 |
4.98 |
(1 USD = 1.7 AZN on Feb. 25)