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Premiums and payments in casco insurance fall 4%

18 March 2015 13:38 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The serious growth in the insurance types in January-February, 2015, was recorded in the insurance of farm animals.

According to Azerbaijan Insurers Association, the premiums from this type of insurance rose 167.7 times to AZN 622,700. Moreover, charges in credit insurance increased 28.9 times to AZN 165,100, compulsory personal accident insurance of passengers raised 10.8 times to AZN 20,800.

Premiums from death insurance grew 89.8% to AZN 3.8 mln, incurable diseases 9.8 times to AZN 110,900, personal accident and sickness (medical) insurance 32.6% to AZN 2.35 mln, travel insurance 8.2% to AZN 241,300, property insurance against fire and other perils 2.2 times to AZN 6.9 mln, compulsory insurance against occupational disability resulting from occupational accidents and diseases 3.4% to AZN 5.6 mln, compulsory real estate insurance quadrupled to AZN 7.9 mln, insurance of civil liability related to real estate 42.5% to AZN 100,200, compulsory vehicle insurance 34.1% to AZN 10.2 mln.

The most serious decline was recorded in the insurance against risks on suspension of work. These premiums fell 100%. Moreover, premiums on insurance of professional liability dropped 66.3% to AZN 17,000, on living insurance declined 34.3% to AZN 10.1 mln.

Premiums in health insurance descended 6.1% to AZN 29.4 mln, casco insurance 4% to AZN 5.6 mln, voluntary insurance of civil liability of vehicle owners 15.2% to AZN 178,400.

The most serious growth in the insurance payments was recorded in the death insurance. These payments increased 4.3 times to AZN 555,700. Moreover, payment on living insurance rose 3.7 times to AZN 3.2 mln, insurance of farm animals soared 2.7 times to AZN 104,500.

Payments in health insurance surged 27% to AZN 8.3 mln, travel insurance surged 2.6% to AZN 38,000, property insurance against fire and other perils grew 31.2% to AZN 395,000, compulsory vehicle insurance advanced 10.6% to AZN 3.8 mln.

Payments in voluntary insurance of civil liability of vehicle owners fell 91% to AZN 11,400, compulsory insurance of civil liability of vehicle owners shed 86.6% to AZN 1,000, insurance of civil liability slid 71.1% to AZN 15,800.

Payments on personal accident and sickness (medical) insurance fell 17.6% to AZN 181,100, casco insurance slipped 4.3% to AZN 4.4 mln, compulsory insurance against occupational disability resulting from occupational accidents and diseases decreased 58.8% to AZN 628,500, compulsory real estate insurance declined 52.4% to AZN 116,100.