Compulsory non-life insurance market grew by 5% in Azerbaijan

Baku. 5 January. REPORT.AZ/ In 2016, the insurance companies - Azerbaijan Compulsory Insurance Bureau participants - collected insurance premiums in the amount of 106 076 363,62 AZN on 1 152 066 insurance contracts for compulsory non-life insurance types.

Report informs, compared to 2015, increase of 6.8% was observed in the number of compulsory insurance contracts, while 4.8% in the amount of insurance premiums.

According to the report, premiums on compulsory insurance of real estate increased by 1.51% per annum and made 25 175 705,6 AZN in 2016. In this period, compulsory insurance market of civil liability regarding real estate fell by 17.9% and totaled 271 230 AZN.

Compulsory personal accident insurance of passengers decreased by 28.7% and totaled 96 953 AZN. Notably, in 2016, insurance premiums of 768 684 AZN collected on 10 514 Green Card insurance contracts.