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Casco insurance continues to fall in Azerbaijan

15 April 2015 08:35 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The serious growth in the insurance types in January-March, 2015, was recorded in the compulsory personal accident insurance of passengers.

According to Azerbaijan Insurers Association Orkhan Bayramov, the premiums from this type of insurance rose 139.5 times to AZN 301,100. Moreover, charges in loan insurance increased 26.7 times to AZN 221,100, insurance against incurable diseases raised 10 times to AZN 126,100.

Premiums from death insurance grew 61.3% to AZN 5.2 mln, personal accident and sickness (medical) insurance 34% to AZN 3.34 mln, travel insurance 5.4% to AZN 386,400, property insurance against fire and other perils 36.6% to AZN 7.12 mln, compulsory insurance against occupational disability resulting from occupational accidents and diseases 10.6% to AZN 10.9 mln, compulsory real estate insurance 2.8 times to AZN 9.26 mln, compulsory insurance of civil liability related to real estate 71.8 to AZN 168,200, compulsory automobile insurance 26.2% to AZN 15.15 mln.

The most serious decline in payments was recorded in the mandatory professional indemnity insurance of auditors. These premiums fell 32.6% to AZN 2,425. Moreover, premiums on fraudulent acts of employees fell 16.3% to AZN 219,100, voluntary insurance of civili liabilities of vehicle owners dropped 15.1% to AZN 232,000.

Premiums in living insurance descended 8.8% to AZN 16.06 mln, health insurance fell 4.1% to AZN 34.34 mln, voluntary automobile insurance 7.5% to AZN 7.56 mln.

The most serious growth in the insurance payments was recorded in the living insurance. These payments increased 4.7 times to AZN 5.8 mln. Moreover, payment on death insurance rose 4.5 times to AZN 748,000, livestock insurance went down three times to AZN 122,400.

Payments in health insurance surged 12.3% to AZN 11.96 mln, property insurance against fire and other perils grew 35.5% to AZN 538,500, compulsory insurance against occupational disability resulting from occupational accidents and diseases rose 33.6% to AZN 675,700, compulsory automobile insurance 19.9% to AZN 7.26 mln.

Payments in voluntary insurance of civil liability of vehicle owners fell 92.7% to AZN 14,800, compulsory insurance of civil liability of vehicle owners dropped 73.1% to AZN 2,000, insurance of agricultural crops shed 53.1% to AZN 10,600.

Payments on personal accident and sickness (medical) insurance fell 10.8% to AZN 275,100, travel insurance descended 21.2% to AZN 48,400, casco insurance slipped 6.2% to AZN 6.16 mln, compulsory real estate insurance slid 41.2% to AZN 240,100.