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Non-Life remains leader in fee collecting on Azerbaijani insurance market (CORRECTED)

Business Materials 20 December 2010 13:58 (UTC +04:00)

Azerbaijan, Baku, Dec. 20 / Trend U.Ismayilova /

Most of the premiums in life-insurance fee collecting fell to life insurance to the amount of 763.493 manat with payments of 232.292 manat in Azerbaijan in January-November, the Azerbaijani Ministry of Finance said.

The death benefits hit 581.463 manat with payments of 55.035 manat.

The total amount of life insurance premiums amounted to 1.344 million manat (0,96 percent) with payments of 287.327 manat.

Major part of Non-Life insurance falls to property insurance - premiums worth 81,664 million manat and payments worth 21,235 million manat. Liability insurance hit 8.848 million manat with payments at 233,451 manat, credit insurance - 305,714 manat with payments worth 271,579 manat and mixed insurance of financial risks - 2,657 manat without payment.

Total premiums for other kind of insurance amounted to 109,089 million manat with payments at 37,435 million manat.

The structure of compulsory insurance premiums on state individual insurance of military men hit 14.03 million manat with payments worth 6.153 million manat, fire insurance - 6.59 million manat million with payments 288,544 manat, public individual insurance of judicial staff and law enforcement agencies - 4.434 million manat with payments at 680,116 manat, liability insurance of vehicle owners - 3.507 million manat with payments at 605,520 manat, insurance of civil servants - 129,217 manat with payments at 14,322 manat.

Total premiums for compulsory insurance for the reporting period totaled 29.39 million manat with payments at 7.76 million manat.

The total premiums of 27 companies operating in the country amount to 139.824 million manat, and payments - 45.483 million manat. Total premiums decreased by 8.17 percent (152.27 million manat), payments reduced by 2.48 percent (46.64 million manat).

The official exchange rate is 0.7988 manat to $1.

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