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Azerbaijan Industry Insurance increases insurance premium by 24%

13 November 2010 12:51 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan Industry Insurance earned AZN 4.374 mln insurance premium during January-September, 2010, up 24% compared with a year ago.

According to company, the payments on insurance risks rose by 2.4 times to AZN 1.254 mln.

Company collected AZN 3.968 mln premiums on voluntary insurance types, AZN 406.215 thousand on compulsory insurance types. Most of premium came from Cargo (transport) insurance (AZN 2.344 mln), Health insurance (AZN 523.119 thousand) and Property fire insurance (AZN 395.269 thousand).

Company paid AZN 1.246 mln insurance claim on voluntary insurance types and AZN 7 100 on compulsory insurance types. Most of payments went to AZN Cargo (transport) insurance (AZN 736.677 thousand or 59%), Health insurance (AZN 204.736 thousand and 16.3%) and Property fire insurance (AZN 133.264 thousand and 11%).

Remind that, Azerbaijan Industry Insurance has been in operation since 1996. The company operates 22 voluntary and 4 compulsory insurance types.