44 manats of paid compensations account for every 100 manats of premiums in Azerbaijan


November 17, Fineko/abc.az. Over Jan-Oct of the year Azerbaijani insurance companies gathered premiums for AZN 462.65 million.

The Financial Market Supervision Chamber informs that insurance companies’ compensation payments amounted to AZN 204.637 million for the reported period.

"For the past 10 months 44 manats of paid compensations accounted for every 100 manats of collected premiums against 45 manats for the 2016 same term,” the Chamber said.

Compared to Jan-Oct 2016, this year’s premiums on voluntary types of insurance increased by AZN 35,990 up to AZN 307.3 million and compensation payments by AZN 15.2 million up to AZN 158.9 million. As a whole, 78% of payments accounted for voluntary and 22% for compulsory types of insurance.

Azerbaijan is numbering 21 insurance companies.



Keywords: premium insurance