Bank Of Baku

70% of insurance market in Azerbaijan formed voluntarily

 70% of insurance market in Azerbaijan formed voluntarily
# 14 April 2015 13:40 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. AZN 93.1 mln or 69.1% of insurance premiums collected in January-March, 2015, came from voluntary insurance types, up 6.9% from previous year, Azerbaijan Insurers Association told APA-Economics.

 

Premiums on compulsory insurance types stood at AZN 41.7 mln or 30.9%of market, up 35.4% from previous year.

 

72.5% or AZN 25.9 mln of payments went to voluntary types, up 30.5% by contrast to a year earlier. Compulsory insurance payments rose 12.9% to AZN 9.8 mln or 27.5% of total market.

 

AZN 27.8 was paid for each AZN 100 insurance premium from voluntary type during the reporting period. This figure was AZN 22.8 last year. Payment for each AZN 100 on compulsory insurance type fell to AZN 23.6 from AZN 28.3.

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