Credit insurance sharply reduced in Azerbaijan

Collection increased by 38%, payment 4-fold in compulsory real property insurance

Baku. 24 February.REPORT.AZ/ In January this year, significant growth was recorded in cargo carrier's civil liability insurance among insurance types in Azerbaijan. Premiums of this insurance increased by 81-fold and made 16,4 thousand manats.

Report informs citing the Azerbaijan Insurers Association, collection from insurance against death increased by 3,7-fold and made 5,9 million manats, from insurance of water transport means increased by 3,4-fold and made 482 thousand manats.

Amount of insurance fees in life insurance increased by 12,1% and made 4,5 million manats, in medical insurance increased by 38,3% and made 36,9 million manats, in civil liability insurance of owners of motor vehicles increased by 69,4% and made 188 thousand manats, in compulsory real property insurance increased by 37,8% and made 5,7 million manats, in compulsory insurance of civil liability associated with the use of real property increased by 10% and made 54 thousand manats.

During the month, significant decrease of premiums was recorded in cargo (transport) insurance, agricultural plants insurance, civil liability insurance of owners of motor vehicles and compulsory insurance of civil liability associated with the use of real property. Premiums of such insurances reduced by 100%. In addition, credit insurance payments decreased by 96,7% and made 1435 manats, property insurance against fire and other risks decreased by 66,8% and made 114 thousand manats.

Amount of insurance payments in insurance against death decreased by 56,2% and made 105 thousand manats, in personal accident and disease insurance by 39,9% and made 52 thousand manats, in travel insurance by 65,7% and made 9 thousand manats, in CASCO insurance by 48,3% and 1,2 million manats, in insurance against industrial accidents by 40,5% and made 90 thousand manats. 

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