Bank Of Baku

Azerbaijan gets 50% rise in voluntary real estate insurance

Azerbaijan gets 50% rise in voluntary real estate insurance
# 25 June 2012 13:10 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. In January-May, 2012, AZN 11.585 mln insurance premium was collected from voluntary real estate insurance in Azerbaijan, up 49% from year earlier.

According to researches of APA-Economics, most of premiums came from Property Fire Insurance (AZN 11.437 mln), which makes 76% of total premium on property insurance, 98% - of premiums on voluntary property insurance.

Besides, the payments on voluntary property insurance rose 13% to AZN 1.106 mln.

Along with this, AZN 3.466 mln was collected on compulsory insurance type, which AZN 3.328 mln of this came from real estate compulsory insurance and AZN 137.610–from compulsory insurance of civil responsibility on maintenance of real estate. Payments decreased by 4.1 times to AZN 48.881.

Remind that, insurance premiums during January-May, 2012 made AZN 144.703 mln, payments – AZN 32.945 mln.
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