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Azerbaijan sees 53% rise life insurance market

16 July 2014 11:26 (UTC +04:00)

Baku. Parviz Nuriyev - APA-Economics. In January-June, 2014, AZN 56 mln or 26.4% of the insurance premiums collected in Azerbaijan fell to share of life insurance, up AZN 19.5 mln or 53% from previous year.

The 51.85% or AZN 29.1 mln of charges on life insurance came from living insurance, 33.7% or AZN 18.9 mln – from insurance against accidents at work, 14.3% or AZN 8 mln from death insurance, AZN 85,000 from insurance against incurable diseases.

Payments on life insurance stood at AZN 3.5 mln, up AZN 1.5 mln or 76% compared to a year earlier.

55.3% or AZ 1.93 mln of payments on life insurance went to living insurance, 32.6% or AZN 1.14 mln to insurance against accidents at work, 11.8% or AZN 411,000 to death insurance and AZN 12,500 to incurable diseases.