Market of voluntary insurance increased by 8% in Azerbaijan

Baku. 1 August. REPORT.AZ/ During the first half of this year, 63.3% or 153.3 million manats of insurance premiums accounted for voluntary insurance in Azerbaijan. Report informs, it is more by 8.2% in comparison with the same period of last year.

Fees for compulsory insurance made 89,1 mln. manats, or 35.7% of the market. The market of compulsory insurance increased by 26.7% in comparison with the same period of last year.

Within 6 months of the year 77.7% or 71.6 million manats of payments accounted for voluntary insurance, which is 55.7% more in comparison with the same period of last year. Payments for compulsory insurance totaled 20.5 million manats, or 22.3% of the market, which is 5.7% more than in the same period of last year.

During the reporting period, for every 100 manat fees on voluntary insurance had 46.7 manats of payments. Last year this number amounted to 32.5 manats. Payments for each 100 manat fees for compulsory insurance fell from 27.6 to 23 manats.