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Azerbaijan increases premiums and payments 14% and 36% in non-life insurance

23 February 2015 09:46 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. AZN 54.7 mln or 87% of insurance premiums collected in January, 2015, came from non-life insurance, up 14.2% from previous year, said the Chairman of Azerbaijan Insurers Association Orkhan Bayramov.

48.7% or AZN 26.7 mln of non-life insurance came from health insurance, 10.3% or AZN 5.6 mln from air transport facilities insurance, 9.3% or AZN 5.1 mln from compulsory automobile insurance, 7.5% or AZN 4.1 mln from property insurance against fire and other perils, 7.5% or AZN 4.1 mln from real estate compulsory insurance, 5.7% or AZN 3.1 mln from casco insurance, 11% or AZN 6 mln from other non-life insurance types.

93.7% or AZN 9.7 mln of payments during 2014 went to non-life insurance, up 35.8% in annual comparison.

41.7% or AZN 4 mln of non-life insurance payments went to health insurance, 24.4% or AZN 2.4 mln to casco, 22.2% or AZN 2.2 mln to compulsory automobile insurance, and 11.7% or AZN 1.1 mln to other non-life insurance types.

AZN 17.7 was paid for each AZN 100 insurance fee. It was AZN 14.9 in 2014.