BAKU, Azerbaijan, July 13
By Zeyni Jafarov – Trend:
Amount of voluntary personal insurance fees collected by Azerbaijani insurance companies from January to May 2021 slightly decreased, Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this indicator made up over 71.3 million manat ($41.9 million), which is about 556,000 manat ($327,060), or 0.8 percent, less year on year.
In the structure of fees for voluntary types of personal insurance, medical insurance accounted for 98.1 percent. So, by the beginning of June, more than 70 million manat ($41.1 million) of premiums were collected for this type, and almost 24.7 million manat ($14.5 million) was paid.
“Another 0.8 percent of fees, or 602,600 manat ($354,470), fell on insurance of citizens traveling abroad. The remaining 1.1 percent or 747,700 manat ($439,820) of collected premiums accounted for insurance against accidents and diseases,” the CBA report said.
“From January through May 2021, Azerbaijani insurers made payments of insurance claims on voluntary types of personal insurance in the amount of 24.85 million manat ($14.62 million), which is 20.4 percent less compared to the same period of 2020,” the report said. “Most payments for this type were made in connection with medical insurance (24.7 million manat or $14.53 million).”
By early June 2021, Azerbaijani insurance companies in total collected over 398 million manat ($234.1 million) of premiums, and paid about 208 million manat ($122.3 million).
(1 USD = 1.7 AZN on July 13)
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