Non-life insurance market increased by 10% in Azerbaijan

Baku. 19 June. REPORT.AZ/ 150,3 million manats or 72.4% of the insurance fee collected in January-May in Azerbaijan accounted for non-life insurance. This is by 9.7% more than in the same period of 2014.

Report informs referring Azerbaijan Insurers Association, in comparison with the same period of previous year non-life insurance incomings: 26.6% or 40 million manats - health insurance, 20% or 30 million manats on compulsory vehicle insurance, 8.9% or 13.4 million manats on compulsory insurance of real estate, 8.6% or 12.9 million manats automobile insurance, 7.9% or 11.8 million. manats of property insurance against fire and other risks, and the remaining 28%, or 42.2 million manats accounted for the other types of non-life insurance.

The first 5 months of this year, 66.3% or 49.4 million manats of insurance payments accounted for non-life insurance. This is by 5,6% less than in the same period of 2014.

Non-life insurance payments are: 41.7%, or 20.6 million manats of payments - health insurance, 26.1% or 12.9 million manats - compulsory vehicle insurance, 20.9% or 10.3 million manats automobile insurance, and the remaining 11.3% or 5.6 million manats accounted for the other types of non-life insurance.

During the reporting period, for every 100 manats insurance premium collected in non-life insurance market 32,9 manats have been paid. During January-May 2014, the figure was 38.2 manats or more by 14%.

In January-May 2015, a total of 207,6 million manats insurance premiums collected through 27 insurance companies.This is by 11.1% more than the same period of 2014. Payments increased by 35%. and amounted to 74.5 million manats.