Azerbaijan sees 5% decline in insurance market

According to Ministry of Finance, the insurance payment rose 4.1% to AZN 53.83 mln.
The premiums on life insurance soared 62.4% to AZN 1.457 mln, non-life insurance –slipped 7.5% to AZN 122.846 mln, on compulsory insurance types – advanced 5.6% to settle at AZN 31.283 mln.
About payments, AZN 0.333 mln went to life insurance, non-life insurance – AZN 44.937 mln, compulsory insurance types – AZN 8.560 mln.
Most of premiums came from Vehicle insurance (AZN 36.477 mln.), Health insurance (AZN 23.332 mln), Property Fire insurance (AZN 22.726 mln.), military servicemen compulsory insurance (AZN 14.613 mln) and Cargo insurance (AZN 10.828 mln. )
Most of payment went to health insurance (AZN 16.812 mln), Vehicle insurance (AZN 14.856 mln), military servicemen compulsory insurance (AZN 6.802 mln) and Air transport insurance (AZN 4.174 mln).
Note that, 27 insurance companies operate in Azerbaijan.
The premiums on life insurance soared 62.4% to AZN 1.457 mln, non-life insurance –slipped 7.5% to AZN 122.846 mln, on compulsory insurance types – advanced 5.6% to settle at AZN 31.283 mln.
About payments, AZN 0.333 mln went to life insurance, non-life insurance – AZN 44.937 mln, compulsory insurance types – AZN 8.560 mln.
Most of premiums came from Vehicle insurance (AZN 36.477 mln.), Health insurance (AZN 23.332 mln), Property Fire insurance (AZN 22.726 mln.), military servicemen compulsory insurance (AZN 14.613 mln) and Cargo insurance (AZN 10.828 mln. )
Most of payment went to health insurance (AZN 16.812 mln), Vehicle insurance (AZN 14.856 mln), military servicemen compulsory insurance (AZN 6.802 mln) and Air transport insurance (AZN 4.174 mln).
Note that, 27 insurance companies operate in Azerbaijan.
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