BAKU, Azerbaijan, Aug.18
By Zeyni Jafarov – Trend:
Amount of voluntary personal insurance fees collected by Azerbaijani insurance companies from January to June 2021 slightly decreased, Trend reports citing the Central Bank of Azerbaijan (CBA), regulator of the local insurance market.
According to the CBA, this indicator made up over 72.7 million manat ($42.7 million), which is slightly over 1 million manat ($588,200), or 1.5 percent, less year on year.
In the structure of fees for voluntary types of personal insurance, medical insurance accounted for 97 percent. Some 70.8 million manat ($41.6 million) of premiums were collected for this type, and 32.2 million manat ($18.9 million) was paid.
Another 1.1 percent of fees, or 829,000 manat ($487,650), fell on the insurance of citizens traveling abroad. The remaining 1.6 percent or 1.15 million manat ($680,000) of collected premiums accounted for insurance against accidents and diseases, the CBA said.
In the first half of 2021, Azerbaijani insurers made payments of insurance claims on voluntary types of personal insurance in the amount of 32.38 million manat ($19 million), which is 10 percent less compared to the same period of 2020. Most payments for this type were made in connection with medical insurance (32.2 million manat or $18.9 million).
Totally, the insurance companies of Azerbaijan collected insurance premiums in the amount of over 452 million manat ($265.8 million) and paid 249 million manat ($145.4 million) in the reporting period.
(1 USD = 1.7 AZN on Aug.18)
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