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Azerbaijan sees 73% rise in premiums on life insurance

13 June 2014 12:12 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. In January-May, 2014, the premiums on living insurance reached AZN 25.8 mln, up 73% compared to a year earlier, said the chairman of Azerbaijan Insurers Association Orkhan Bayramov.

According to him, the premiums from health insurance rose 15% to AZN 42.5 mln, property fire insurance increased 15% to AZN 12.8 mln. AZN 17.5 mln came from insurance against accidents at work, up 9% by contrast to a year earlier. Death insurance premiums rose 3.55 times to AZN 6.6 mln, premiums on compulsory insurance of real estate soared 30% to AZN 6.2 mln.

Premiums from civil liability on civil-legal contract quintupled to AZN 293,000. Insurance from incurable diseases surged 3.43 times to AZN 34,000, insurance of civil liabilities of water transport vehicles owners grew 2.16 times to AZN 560,000.

Payments on death insurance rose 4.44 times to AZN 371,000, on water transport vehicles surged 3.37 times to AZN 1,750, property fire insurance tripled to AZN 5.7 mln.

Payments on living insurance increased by 6.1% to AZN 1.65 mln, insurance against accidents at work rose 54% to AZN 901,000, compulsory insurance of real estate grew 35.5% to AZN 868,000, insurance of civil liabilities of water transport vehicles owners climbed 29% to AZN 11 mln, health insurance dropped 6.7% to AZN 19 mln, carco insurance raised 4.5% to AZN 11.2 mln.