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Azerbaijan sees rise in real estate insurance market

19 October 2012 08:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-ECONOMICS. The volume of premiums on insurance of real estate in Azerbaijan during January-September, 2012, amounted to AZN 24.479 million, up 8.9% compared to 2010.

During the reporting period, the volume of insurance payments on insurance events decreased by 16% to AZN 1.818 million.

During the reporting period, AZN 24.013 million were collected on â€œProperty insurance against fire and other risksâ€, which makes 74% of total insurance premiums on real estate.

Besides, in January-September, 2012, AZN 7.954 mln was collected on compulsory property insurance. Of these, AZN 7.723 mln fell to share of Compulsory insurance of real estate, AZN 231.796 thousand â€“ on Compulsory insurance of civil liability on exploitation of real estate. Charges soared 27%. Payments rose 2.2 times to AZN 923.404 thousand.

In January-September, 2012, the insurance premiums made AZN 256.326 mln, payments â€“ AZN 67.650 mln.