Bank Of Baku

Azerbaijan insurance market decreases by 15% year-on-year

Azerbaijan insurance market decreases by 15% year-on-year
# 22 October 2010 14:16 (UTC +04:00)
Ministry of Finance says that the insurance claims during the same period decreased by 15% to AZN 35.787 mln.

Premiums on life insurance made AZN 1.072 mln, non-life insurance AZN 93.952 mln, on compulsory insurance types AZN 22.937 mln.

Claims on life insurance made AZN 260.729 thousand, on non-life insurance AZN 29.160 mln, on compulsory insurance types AZN 6.366 mln.

Besides, most of premiums came from Vehicle insurance (AZN 26.047 mln), Health insurance (AZN 18.376 mln), Property fire insurance (AZN 18.268 mln) and Military servicemen insurance (AZN 10.716 mln).

Most of claim went to Health insurance (AZN 12.866 mln), Vehicle insurance (AZN 10.669 mln) and military servicemen insurance (AZN 4.996 mln).

Note that 27 insurance companies operate in Azerbaijan.
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