Bank Of Baku

Insurance premium collection reaches AZN 140 million in Azerbaijan

Insurance premium collection reaches AZN 140 million in Azerbaijan
# 16 December 2010 12:17 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based insurers earned AZN 139.82 million in premiums during January-November, 2010.

The Ministry of Finance said insurers paid AZN 45.483 million for insurance claims.

Premiums from life insurance stood at AZN 1.345mln, premiums from non-life insurance at AZN 109.089 million and premiums from compulsory insurance at AZN 29.390 million.

Insurance claims for life insurance stood at AZN 287.327 thousand, for non-life insurance at AZN 37.435 mln, for compulsory insurance at AZN 7.761 mln.

Premiums most came from health insurance (AZN 20.768 mln), motor insurance (AZN 31.667 mln), fire insurance (AZN 20.234mln) and military servicemen compulsory insurance (AZN 14.033 mln).

Payment most went to motor insurance (AZN 13.351 mln), health insurance (AZN 14.902 mln) and military servicemen compulsory insurance (AZN 6.153 mln).

There are 27 insurance companies in Azerbaijan.
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