15:31 - 29.10.2019

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October 29, Fineko/abc.az. The Financial Market Supervision Authority has published the indicators of the insurance sector for Jan-Sept 2019.

ABC.AZ informs that according to FIMSA’s report, the growth of premiums on voluntary insurance continued by 2% or AZN 3.7 million and on compulsory insurance by 7% or AZN 9.1 million. The largest increase on types of voluntary insurance was recorded on health insurance.

Thus, compared with the 2018 same term, there was observed a rise of 14% or AZN 9 million. Among the types of property insurance, voluntary insurance also shows an increase on vehicle insurance: motor vehicle insurance 26% or AZN 5.3 million, water transport insurance 29% or AZN 1.7 million, air transport insurance 6% or AZN 600,000.

During this period the compulsory insurance premiums increased by 11% or AZN 17.1 million versus the same period of 2018.

The main drivers of growth in compulsory life insurance were civil liability insurance of motor vehicle owners (rise of 5% or AZN 3.6 million), real estate insurance (rise of 21% or AZN 4.9 million) and state personal insurance of judicial and law enforcement officials (rise of 9% or AZN 1.1 million).

By Elmir Murad