Bank Of Baku

Azerbaijan sees 80% decline in premiums from real estate compulsory insurance year-on-year

Azerbaijan sees 80% decline in premiums from real estate compulsory insurance year-on-year
# 01 March 2016 14:56 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. In February 2016, 5,904 insurance contracts were signed on real estate compulsory insurance, down 56% in comparison with a year ago.

 

 

According to Compulsory Insurance Bureau, premiums from this type of insurance amounted to AZN 755,887, down 80% from previous year. 64.01% of contracts were signed on residential houses and apartments, 0.98% on administrative buildings, 35.01% on other real estates.

 

373 (contracts were signed on compulsory insurance civil liability on exploitation of real estate (premiums – AZN 21,960) and 7 on compulsory personal accident insurance of passengers (AZN 8,178).

 

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