Azerbaijan increases premiums 13%, decreases payments 1% in non-life insurance

Azerbaijan increases premiums 13%, decreases payments 1% in non-life insurance
# 23 July 2015 13:06 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. AZN 176.5 mln or 72.8% of insurance premiums collected in the first half of 2015 came from non-life insurance, up 13.2% from previous year, said the head of Azerbaijan Insurers Association Orkhan Bayramov.

23.8% or AZN 42 mln of non-life insurance came from health insurance, 20.4% or AZN 36.1 mln from compulsory vehicle insurance, 10.3% or AZN 18.2 mln from real estate compulsory insurance, 9.4% or AZN 16.6 mln from property insurance against fire and other perils, 8.9% or AZN 15.7 mln from casco insurance, 27.2% or AZN 48 mln from from other non-life insurance types.

66.7% or AZN 61.5 mln of payments in the first half went to non-life insurance, down 0.7% in annual comparison.

39.6% or AZN 243 mln of non-life insurance payments went to health insurance, 25% or AZN 15.4 mln to compulsory automobile insurance, 19.8% or AZN 12.2 mln to casco, and 15.6% or AZN 9.6 mln to other non-life insurance types.

AZN 34.8 was paid for each AZN 100 insurance premium. It was AZN 39.7 in 2014.

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