Azerbaijan, Baku, March 16 /Trend A.Akhundov/
Three companies eligible for life insurance in Azerbaijan - Pasha Heyat, Ateshgah and Qala Heyat have collected 14.812 million manat on all types of life insurance in January-February 2013, which exceeds the indicators for the same period of last year by 2.05 times.
This was noted in the report of Azerbaijani Ministry of Finance on the activity of insurance companies in January-February of 2013.
However, the share of life insurance premiums in the general volume of company fees has slightly increased from 12.27 to 18.81 per cent within a year.
Compensation amounting to 0.28 million manat has been paid in January-February 2013, which is by 2.7 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 during the year from 1.09 to 1.73 percent.
Some 4.4 million manat was collected on the mandatory insurance of disability resulting from professional diseases and accidents at work within the first two months of 2013. These figures exceed the indicators for the same period of last year by 1.27 per cent.
The fees on voluntary life insurance have increased by 2.57 times within a year to reach 10.41 million manat. Most of the fees in the life insurance field fall to the share of insurance on survival (9.8 million manat), the rest of the fees are covered by life insurance in the case of death (0.6 million manat) and insurance from incurable deceases (7.66 thousand manat).
The fees on voluntary types of life insurance in January - February were paid to the sum exceeding 87,000 manat and on legally required insurance - 193,000 manat.
The total volume of premiums of all companies acting in the country amounted to 78.76 million manat according to the totals of first two months of 2012 (a three-fold increase within a year), whilst the fees during the same period amounted to 16.214 million manat (an increase by nearly 70 per cent).
The report of the Ministry of Finance didn't mention the activity totals of the only reinsurance company in the country, AzRE.
The official exchange rate on March 16 is 0.7848 AZN/USD.
