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Payments in life insurance rise by 8 times

18 December 2014 14:31 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. AZN 91.75 mln or 24% of insurance premiums collected in January-November, 2014, came from life insurance, up AZN 27.9 mln or 43.8% from previous year, said the chairman of the Azerbaijan Insurers Association Orkhan Bayramov.

53% or AZN 48.6 mln of premiums came from living insurance, 30% or AZN 27.6 mln from insurance against accidents at work, 16.6% or AZN 15.3 mln from death insurance, AZN 343,000 from insurance against incurable diseases.

AZN 26.8 mln was paid to life insurance, up AZN 23 mln or 7.6 times from previous year.

87.8% or AZN 23.6 mln of payments went to living insurance, 7.8% or AZN 2.1 mln to insurance against accidents at work, 4.2% or AZN 1.13 mln to death insurance, AZN 62,500 to insurance against incurable diseases.

AZN 29.3 was paid for each AZN 100 insurance premium during the reporting period, while it was AZN 5.5 last year.