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Azergarant insurance company increases premiums by 44% year-on-year

21 September 2011 15:01 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijanâ€™s Azergarant insurance company collected AZN 751 mln-premiums during January-August, 2011, up 44% from a year ago.

Payments on insurance risks amounted to AZN 128.8 thousand by rising 3.2 times during the reporting period.

During the reporting period, AZN 494 thousand was collected on type of voluntary insurance, AZN 257 on type of compulsory insurance. At the same time, payments on type of voluntary insurance accounted for AZN 91 thousand, and on compulsory insurance â€“ AZN 38.2 thousand.

The major part of the premiums were received under the â€œIndividual insurance accident and sicknessâ€ (AZN 264.450), â€œCivil liability insurance of vehicle ownersâ€ (AZN 235.958) and â€œVehicle insuranceâ€ (AZN 131.435) . The share of these types of insurance in total revenues was 35%, 31% and 18% respectively.

With regard to payments, the largest amount of funds disbursed under the â€œIndividual insurance accident and sicknessâ€ (AZN 63.533 or 49%), â€œCivil liability insurance of vehicle ownersâ€ (AZN 38.163 or 30%).