3.4% of Azerbaijan insurance market falls to share of real estate compulsory insurance

3.4% of Azerbaijan insurance market falls to share of real estate compulsory insurance
# 13 March 2013 09:09 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. In 2012, the member insurers of the Compulsory Insurance Bureau insured 149,101 insurance subjects, said the State Insurance Control Service of the Ministry of Finance.

According to information, 4,020 of them were buildings and non-residential areas belonging to legal entities, 28,887 – buildings and non-residential areas belonging to individuals, 117,194 – residential houses and apartments.

Totally, AZN 11,379,230.85 insurance premiums were collected on this type. Of this, 4,237,598.48 were collected from insurance of buildings and non-residential areas belonging to legal entities, AZN 2,676,317.35 – from insurance of buildings and non-residential areas belonging to individuals and AZN 4,465,315.02 – from insurance of residential houses and apartments.

At the same time, AZN 910,280.60-payments were implemented on insurance accidents. Of this, AZN 114,648.80 went to damages on buildings and non-residential areas belonging to legal entities, AZN 169,875.40 – to insurance of buildings and non-residential areas belonging to individuals and AZN 625,756.40 – to insurance of residential houses and apartments.

Real estate compulsory insurance type made 8.91% of compulsory insurance market for insurance charges, 3.42% - of general insurance market.

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