Azerbaijan sees 1% rise in non-life insurance market

Azerbaijan sees 1% rise in non-life insurance market
# 13 June 2014 12:29 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. In January-May, 2014, AZN 137 mln r 73% of insurance premiums came from non-life insurance, up AZN 1.115 mln or 1% compared to a year earlier, said the chairman of the Azerbaijan Insurers Association Orkhan Bayramov.

He noted that 31% or AZN 42.5 mln of non-life insurance premiums came from health insurance, 18.4% or AZN 25.2 mln from compulsory vehicle insurance, 10.5% or AZN 14.4 mln from casco insurance, 9.3% or AZN 12.8 mln from property fire insurance, 4.5% or AZN 6.2 mln from compulsory insurance of real estate.

94.7% or AZN 52.3 mln of total insurance payments went to non-life insurance, up AZN 5.1 mln or 13% by contrast to a year ago.

36.3% or AZN 19 mln went to health insurance, 21.4% or AZN 11.2 mln to casco insurance, 20.7% or AZN 11 mln to compulsory vehicle insurance, 10.9% or AZN 5.7 mln to property fire insurance, 1.7% or AZN 868,000 to compulsory insurance of real estate.

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