Azerbaijan, Baku, Dec. 20 /Trend A.Akhundov/
Three companies eligible for life insurance in Azerbaijan - Pasha Heyat, Ateshgah Heyat and Qala Heyat have collected 34.62 million manat on all types of life insurance in January-November, 2012, which exceeds the indicators for the same period last year by 63.61 percent.
This was noted in the report of Azerbaijani Finance Ministry on the activity of insurance companies in January-November of 2012.
However, the share of life insurance premiums in the general volume of company fees has slightly increased from 10.96 to 11.06 percent within a year.
Compensations amounting to 4.13 million manat have been paid in January-November of 2012, which is 9.18 times more than the figures for the same period last year. The share of these payments in the total payout of the insurance market increased from 0.84 per cent to five per cent during the year.
Some 20.8 million manat was collected on the mandatory insurance of disability resulting from professional diseases and accidents at work within the first 11 months of 2012. These figures exceed the indicators for the same period of last year by 15.43 per cent.
The fees on voluntary life insurance have increased by 4.4 times within a year to reach 13.82 million manat. Most of the fees in the life insurance field fall to the share of insurance on survival (10.98 million manat), the rest of the fees are covered by life insurance in the case of death (2.75 million manat) and insurance from incurable deceases (86.15 thousand manat).
The fees on voluntary types of life insurance in January - November were paid to the sum of 3.03 million manats and on legally required insurance - 1.1 million manat.
The total volume of premiums of all companies acting in the country amounted to 312.97 million manat in January-November 2012, an increase of 62.1 per cent within a year, whilst the fees during the same period amounted to 82.54 million manat, an increase of 47.52 per cent.
The report of the Finance Ministry didn't mention the activity totals of the only reinsurance company in the country, AzRE.
Official exchange rate on Dec.20 is 0,7849 AZN/USD.
