Azerbaijan increases premiums 40%, payments over 30% in life insurance market

Azerbaijan increases premiums 40%, payments over 30% in life insurance market
# 23 February 2015 14:38 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. AZN 8.2 mln or 13% of the insurance premiums collected in January, 2015, came from life insurance, down 38.2% from previous year, said the Chairman of Azerbaijan Insurers Association Orkhan Bayramov.

About 50% or AZN 4.1 mln of premiums on life insurance came from living insurance, 30.5% or AZN 2.5 mln from insurance against accidents at work, 19.5% or AZN 1.6 mln from death insurance, AZN 12,600 from insurance against incurable diseases.

Insurance payments on life insurance made AZN 650,000 or 6.3% of total payments (down 31.9% from 2014).

39.5% or AZN 257,000 of payments went to living insurance, 23.4% or AZN 152,000 to insurance against accidents at work, 37.1% or AZN 241,000 to death insurance.

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