Finance

Finance

Voluntary real estate insurance market in Azerbaijan rises 42% year-on-year in Azerbaijan

22 May 2012 08:58 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. Azerbaijan has collected AZN 8.726 mln insurance premiums on voluntary real estate insurance in January-April, 2012, up 42% from year earlier.

According to researches of APA-Economics, most of premiums came from Property Fire Insurance (AZN 8.578 mln), which makes 78% of charges on total property insurance, 98% of voluntary property insurance.

The payments on voluntary property insurance decreased 4.1% to AZN 765,756.

Besides, AZN 2.279 mln was collected from compulsory property insurance and AZN 2.184 mln came from compulsory real estate insurance and 94,845 â€“ from compulsory insurance of civil responsibility on maintenance of real estate. Payments dropped 83.3% to AZN 30,503.

Most of premiums were collected by AXA Mbask, Ateshgah Insurance, Standard Insurance, Azersigorta, AzSigorta and International Insurance Company.

Note that, in January-April, 2012, the insurance premiums made 115.770 mln, payments â€“ AZN 26.465 mln.