Azerbaijan-based insurers collect AZN 523M premium in nine months

In January-September 2019, Azerbaijan-based insurers collected AZN 522.5 million premiums, paid AZN 201.7 million, Report informs citing the Financial Markets Supervisory Authority (FIMSA).

Premiums on voluntary insurance market amounted to AZN 351.7 million, payments to AZN 143.4 million. Premiums on compulsory insurance market made up AZN 170.7 million, payments – AZN 58.3 million.

In the reporting period 67.3% of insurance premiums came from voluntary types, 32.7% from compulsory types. 71.1% of payments went to voluntary types, 28.9% to compulsory types.

Premiums on non-life voluntary insurance types rose by 2% or AZN 3.7 million, compulsory types – 7% or AZN 9.1 million.

Premiums on compulsory insurance types rose by 11% or AZN 17.1 million.