Azerbaijan, Baku, April 20 / Trend A.Akhundov /
Three companies eligible for life insurance in Azerbaijan - Pasha Heyat, Ateshgah and Qala Heyat have collected 20.68 million manat on all types of life insurance in January-March 2013, which exceeds the indicators for the same period of last year by 2.16 times, according to the report of Azerbaijani Ministry of Finance on the activity of insurance companies in January-March of 2013.
However, the share of life insurance premiums in the general volume of company fees has slightly increased from 11.7 to 20.23 percent within a year.
Compensation amounting to 1.087 million manat has been paid in January-March 2013, which is by 4.57 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 1.43 to 4.28 percent.
Some 8.57 million manat was collected on the mandatory insurance of disability resulting from professional diseases and accidents at work within the first three months of 2013. These figures exceed the indicators for the same period of last year by 77.07 percent.
The fees on voluntary life insurance have increased by 2.57 times within a year to reach 12.11 million manat. Most of the fees in the life insurance field fall to the share of insurance on survival (11.156 million manat), the rest of the fees are covered by life insurance in the case of death (0.95 million manat) and insurance from incurable deceases (7,660 manat).
The fees on voluntary types of life insurance in January - March were paid to the sum exceeding 801,680 manat and on legally required insurance - 284,570 manat.
The total volume of premiums of all companies acting in the country amounted to 102.23 million manat according to the totals of first three months of 2013 (a 25.22 percent increase within a year), whilst the fees during the same period amounted to 25.4 million manat (an increase by 52.74 percent).
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 April 20 is 0.7847 AZN/USD.
