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Premiums in casco insurance fall 10%, payments 8.4%

17 June 2015 09:45 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The serious growth in the insurance types in January-May 2015, was recorded in the loan insurance.

According to Azerbaijan Insurers Association Orkhan Bayramov, the premiums from this type of insurance rose 28.6 times to AZN 364,900. Moreover, charges in insurance of water transport facilities rose 7 times to AZN 2 mln, insurance of farm animals – 6.6 times to AZN 1.16 mln.

Premiums from living insurance grew 23.1% to AZN 31.8 mln, incurable diseases soared 4.7 times to AZN 160,000, personal accident and sickness (medical) insurance 12.3% to AZN 4.7 mln, travel insurance 8% to AZN 732,700, compulsory insurance against occupational disability resulting from occupational accidents and diseases 7.5% to AZN 18.8 mln, compulsory real estate insurance 2.2 times to AZN 13.4 mln, compulsory insurance of civil liability related to real estate 8.7% to AZN 209,400, compulsory automobile insurance 19.1% to AZN 30 mln, compulsory personal accident insurance of passengers 15% to AZN 73,500.

The most serious decline in payments was recorded in the insurance of products of agricultural plants. The premiums from this type fell 35.2% to AZN 204,200. Moreover, premiums on mandatory professional indemnity insurance of auditors fell 30.3% to AZN 3,285, employer's liability insurance dropped 24.7% to AZN 353,700.

Premiums in death insurance descended 0.1% to AZN 6.6 mln, health insurance fell 6% to AZN 40 mln, property insurance against fire and other risks slid 7.6% to AZN 11.8, voluntary automobile insurance 10% to AZN 12.9 mln, voluntary insurance of civil liabilities of vehicle owners 3.6% to AZN 413,700.

The most serious growth in the insurance payments was recorded in the living insurance. These payments increased 14 times to AZN 23.07 mln. Moreover, payment on death insurance rose 3.3 times to AZN 1.22 mln, insurance of products of agricultural plants went up 2.7 times to AZN 61,300.

Payments in health insurance raised 8.3% to 20.6 mln, compulsory automobile insurance 17.1% to AZN 12.9 mln.

The most serious decline in the insurance payments was recorded in the property insurance against fire and other risks. These payments declined 85.4% to AZN 831,000. Moreover, compulsory insurance of civil liabilities of vehicle owners dropped 80.9% to AZN 2,000, voluntary insurance of civil liabilities of vehicle owners shed 75.9% to AZN 72,700.

Payments on personal accident and sickness (medical) insurance slipped 2.6% to AZN 471,300, travel insurance 9.2% to AZN 81,600, casco insurance 8.4% to AZN 10.3 mln, compulsory insurance against occupational disability resulting from occupational accidents and diseases 4.7% to AZN 859,100, compulsory real estate insurance 53.1% to AZN 407,400.