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    Market of compulsory insurance of immovable property reduced by 11% in Azerbaijan

    Compulsory property insurance fees for March increased by 30%

    Baku. 4 April. REPORT.AZ/ 5 245 contracts of compulsory insurance of real estate signed in March of 2016 in Azerbaijan.

    Report informs referring to the Compulsory Insurance Bureau (CIB), the amount of insurance payments under contracts of compulsory insurance of real estate exceeds 1,9 mln. AZN.

    Among the contracts of compulsory insurance of immovable property 68,4% accounted for houses and flats, 0,7% - administrative buildings, 31,1% - other real estate. Compared with the same period last year the number of contracts of compulsory insurance of real estate fell by 43,2%,, the amount of premiums increased by 29,7%.

    In general, for the first quarter of 2016, 15,970 contracts of compulsory insurance of real estate were concluded, contributions have made 8.4 mln AZN. The number of contracts on compulsory insurance of property on an annualized basis decreased by 45.7%, the amount of premiums - by 10.9%.

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