Bank Of Baku

Azerbaijan sees 25% rise in voluntary real estate insurance market during Q1

Azerbaijan sees 25% rise in voluntary real estate insurance market during Q1
# 16 April 2012 08:10 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Premiums collected on voluntary real estate insurance in Azerbaijan during January-March amounted to AZN 5.496, up 255 compared to last year.

The most premiums were collected on “Insurance of property from fire and other risks” (AZN 5.350 mln), which makes 775 of total premiums and 975 of revenues on voluntary property insurance market.

During the reporting period, the amount of payments on insurance events made AZN 296.479 by dropping 33%.

Besides, premiums on compulsory property insurance made AZN 1.439 mln during Q1, 2012. Of these, AZN 1.381 mln or 96% fell on share of “Compulsory property insurace”, AZN 58.186 thousand or 4% - “Compulsory insurance of civil liability on exploitation of property”.

The most premiums came from AXA-MBask, Ateshgah Sigorta, Standard Insurance, Azersigorta, AzSigorta and International Insurance Company.
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