BAKU, Azerbaijan, Nov. 27
By Eldar Janashvili - Trend:
From January through October 2019, the volume of Azerbaijan’s life insurance market amounted to 223.5 million manat ($131.7 million), which is 22 percent less than in the same period of last year, Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
Four companies, namely PASHA Life, Ateshgah Life, Qala Life and Xalq Life, have licenses for rendering life insurance services in the country.
These companies’ share in the total fees of insurance companies in the country for the reported period amounted to 39.2 percent.
From January through October 2019, payments of companies for all types of life insurance amounted to 91.2 million manat ($53.7 million) or 40.5 percent of all payments in the market.
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Comparative table of fees and payments for life insurance, from January through October 2019 |
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|
Type of life-insurance |
Fees (in million manat) |
Share in life insurance (%) |
Payments (in million manat) |
Share in life insurance (%) |
|
Death insurance |
42.3 ($24.9) |
18.9 |
1.1 ($0.6) |
1.1 |
|
Endowment insurance |
138.6 ($81.7) |
62 |
87.8 ($51.7) |
96.2 |
|
Disability insurance |
3.9 ($2.3) |
1.7 |
0 |
0 |
|
Insurance against incurable diseases |
434,000 ($255,805) |
0.2 |
0 |
0 |
|
Compulsory insurance against disability at work |
38.3 ($22.6) |
17.1 |
2.4 ($1.4) |
2.7 |
($1= 1.7 manat on Nov. 27)
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