BAKU, Azerbaijan, May 12
By Yusif Aghayev - Trend:
The insurance companies operating in Azerbaijan paid out insurance claims on voluntary types of insurance in the amount of 23.3 million manat ($13.7 million) in March 2020, which is 14.7 million manat ($8.6 million) or 2.7 times more than in March 2019.
At the same time, payments on voluntary life insurance amounted to 14.6 million manat ($8.6 million) in March 2020, which is an increase of 11.2 million manat ($6.6 million) or 4.3 times compared to March 2019.
As for voluntary types of non-life insurance, insurance claims paid in March 2020 increased to 8.7 million manat ($5.1 million), which is 3.5 million manat ($2.05 million) or 68 percent more than in March 2019.
At the same time, the amount of the paid insurance claims amounted to 2.1 million manat ($1.2 million) in the personal insurance segment in March 2020, which is almost 2 times less than in March 2019. The same situation is observed within the voluntary health insurance.
The payments in the property insurance segment increased by many times, reaching 6.5 million manat ($3.8 million) in March 2020, exceeding the indicator in March 2019 - 1.01 million manat ($594,117) by 6.5 times.
Civil liability insurance payments also increased by many times, reaching 243,000 manat ($142,941) in March 2020, which is an increase by 15 times compared to March 2019. These insurance claims accounted for 99 percent of liability insurance of aircraft owners.
In general, the insurance companies operating in Azerbaijan paid insurance claims in the amount of 27.8 million manat ($16.3 million) in March 2020, which is 14.6 million manat ($8.6 million) or 2.1 times more than in March 2019.
Today, 22 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on May 12)
---
Follow the author on Twitter: @yusif62610338
