BAKU, Azerbaijan, June 8
By Zeyni Jafarov – Trend:
Azerbaijani insurance companies collected voluntary types of personal insurance in the amount of about 67.5 million manat ($39.7 million) in April 2021, which is about 1.05 million manat ($617,647), or 1.5 percent, less compared to April 2020, Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, in the structure of fees for voluntary types of personal insurance, medical insurance accounted for 98.5 percent. So, by the beginning of May, 66.5 million manat ($39.1 million) of premiums were collected for this type, and 20.7 million manat ($12.1 million) was paid.
“Another 0.7 percent of fees, or 467,100 manat ($274,746), fell on insurance of citizens traveling abroad. The remaining 0.8 percent or 545,500 manat ($320,882) of collected premiums accounted for insurance against accidents and diseases,” the CBA report said.
“From January through April 2021, Azerbaijani insurers made payments of insurance claims on voluntary types of personal insurance in the amount of 20.9 million manat ($12.3.million), which is 11.3 percent less compared to the same period of 2020. This growth was achieved mainly due to large payments on health insurance, the amount of which in annual terms decreased by 10.9 percent, exceeding 20 million manat ($11.7 million),” the report said.
By early May 2021, Azerbaijani insurance companies collected over 339 million manat ($199.4 million) of premiums, and paid about 180 million manat ($105.8 million).
(1 USD = 1.7 AZN on June 8)