Payments sharply increased in life insurance market of Azerbaijan

The amount of fees increased by 53% in life insurance market of Azerbaijan

Baku. 23 February. REPORT.AZ/ In January 2016, 12,5 AZN or 16,4% of the insurance premiums accounted for life insurance in Azerbaijan. 

Report informs referring to the Association of Insurance Companies of Azerbaijan, life insurance market grew by 53.1% compared to the same period of 2015.

47% or 5.9 mln AZN of premiums accounted for insurance against death, 36.4% or 4.5 mln AZN - life insurance, AZN 16.6% or 2.1 mln AZN - insurance against accidents at work.

During the month, life insurance payments amounted to 4.3 mln AZN.This made 31.9% of the total payments in 2015, which is by 6.6 times more than in the same period of 2015.

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