Bank Of Baku

Insurance premium collection reaches AZN 103.06 million in Azerbaijan

Insurance premium collection reaches AZN 103.06 million in Azerbaijan
# 24 September 2010 07:42 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based insurers earned AZN 103.06 million in premiums during January-August, 2010.

The Ministry of Finance said insurers paid AZN 30.92 million for insurance claims.

Premiums from life insurance stood at AZN 962.207 thousand, premiums from non-life insurance at AZN 80.028 million and premiums from compulsory insurance at AZN 522.068 million.

Insurance claims for life insurance stood at AZN 251.110 thousand, for non-life insurance AZN 25.056 mln, for compulsory insurance AZN 5.612 mln.

Premiums most came from health insurance (AZN 17.431 mln), motor insurance (AZN 22.127 mln), fire insurance (AZN 12.992 mln) and military servicemen compulsory insurance (AZN 10.685 mln).

Payment most went to motor insurance (AZN 9.376 mln), health insurance (AZN 11.556 mln) and military servicemen compulsory insurance (AZN 4.484 mln).

There are 28 insurance companies in Azerbaijan.
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