Azerbaijan sees 11% growth in real estate insurance market

Azerbaijan sees 11% growth in real estate insurance market
# 27 September 2012 08:51 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan has collected AZN 18.331 mln insurance premiums on voluntary real estate insurance in January-August, 2012, up 7% from year earlier.

According to researches of APA-Economics, most of premiums came from Insurance of property against fire and other risks (AZN 18.026 mln), which makes 71% of charges on total property insurance, 98% of voluntary property insurance.

The payments on voluntary property insurance increased 19% to AZN 2.144 mln.

Besides, AZN 6.986 mln was collected from compulsory property insurance and AZN 6.784 mln came from compulsory real estate insurance and AZN 201,675 – from compulsory insurance of civil liability on maintenance of real estate. Charges soared 23%. Payments rose by 2.4 times to AZN 694,884.

During the reporting period, the voluntary property insurance premiums made 25.317 mln, up 11% from year earlier. Payments surged 35% to AZN 2.839 mln.

In January-August, 2012, the insurance premiums made AZN 228.873 mln, payments – AZN 58.873 mln.
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