Bank Of Baku

Voluntary real estate insurance market rises 24% in Azerbaijan

Voluntary real estate insurance market rises 24% in Azerbaijan
# 14 August 2012 12:32 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan has collected AZN 13.031 mln insurance premiums on voluntary real estate insurance in January-June, 2012, up 24% from year earlier.

According to researches of APA-Economics, most of premiums came from Property Fire Insurance (AZN 12.788 mln), which makes 71% of charges on total property insurance, 98% of voluntary property insurance.

The payments on voluntary property insurance increased 20% to AZN 1.433.

Besides, AZN 4.638 mln was collected from compulsory property insurance and AZN 4.478 mln came from compulsory real estate insurance and AZN 160.160 thousand– from compulsory insurance of civil responsibility on maintenance of real estate. Payments dropped 2 times to AZN 131.810 thousand.

Note that, in January-June, 2012, the insurance premiums made 169.455 mln, payments – AZN 41.444 mln.
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