Bank Of Baku

Insurance premium collection reaches AZN 67 million in Azerbaijan

Insurance premium collection reaches AZN 67 million in Azerbaijan
# 24 June 2010 09:35 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based insurers earned AZN 66.906 million in premiums during January-May.

The Ministry of Finance said insurers paid AZN 18.509 million for insurance claims.

Premiums from life insurance stood at AZN 603.659 thousand, premiums from non-life insurance at AZN 52.432 million and premiums from compulsory insurance at AZN 13.870 million.

Insurance claims were increased by 120.7 thousand, 15.129 mln and 3.259 mln for the above three categories respectively.

Premiums most came from health insurance (AZN 12.831 mln), motor insurance (AZN 12.471 mln) and aircraft insurance (AZN 7.539 mln).

Payment most went to motor insurance (AZN 5.894 mln), health insurance (AZN 6.688 mln) and military servicemen compulsory insurance (AZN 2.725 mln).

There are 27 insurance companies in Azerbaijan.
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