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Azerbaijan-based insurers see 11% drop in proceeds

19 October 2009 16:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-ECONOMICS. Azerbaijan-based insurance companies earned AZN 130.18 million in premiums during January-September, down 11.1% from a year ago, said the Ministry of Finance.

According to statistics, and the companies paid AZN 38.224 million for insurance claims during this period, up 3.8% from a year ago.

Premiums came AZN 0.598million from life insurance, AZN 107.889 million from nonlife insurance and AZN 21.694 million from compulsory insurance.

Claims came AZN 0.343 million from life insurance, AZN 29.607 million from nonlife insurance and AZN 8.274 million from compulsory insurance.

Premiums most came from vehicle insurance (AZN 23.672million), civil liability insurance (AZN 20.490 million), health insurance (AZN 16.738 million) etc.

Payment for insurance claims most went to vehicle insurance (AZN 12.357 million), health insurance (AZN 9.966 million) and military servicemen compulsory personal insurance (AZN 7.157 million).

There are 28 insurance companies in Azerbaijan.