Baku, Azerbaijan, Sept. 26
By Azad Hasanli – Trend:
Azerbaijan’s life insurance market totaled 137.3 million manats in January-August 2017 that is 30.3 percent more than in the same period of 2016, said a report of the Financial Market Supervisory Authority (FIMSA).
Three companies – PASHA Life, Ateshgah Life and Qala Life – have licenses for rendering life insurance services in Azerbaijan.
These companies’ share in total premiums collected by insurance companies in Azerbaijan exceeded 37.2 percent in the period.
In January-August 2017, these companies paid claims of 79 million manats on all types of life insurance (an increase by 62.9 percent in a year), which accounts for 21.4 percent of all payments in the market.
|
Premiums and paid claims in life insurance market, January-August 2017 |
||||
|
Life insurance |
Premiums (in manats) |
Share (%) |
Paid claims (in manats) |
Share (%) |
|
Death insurance |
20,513,949.06 |
14.9 |
1,732,102.08 |
1.29 |
|
Endowment insurance |
89,397,963.39 |
65.1 |
75,518,201.03 |
95.6 |
|
Disability insurance |
855,684.86 |
0.62 |
- |
- |
|
Insurance against incurable diseases |
103,937.75 |
0.08 |
9,850 |
0.01 |
|
Compulsory insurance against labor ability loss |
26,444,111.52 |
19.26 |
1,789,810.38 |
2.3 |
