Since early 2017 insurers in Azerbaijan collected more than AZN 504 million of premiums


December 18, Fineko/ Over the past 11 months of the year Azerbaijani insurance companies collected premiums for AZN 504.2 million.

The Financial Market Supervision Chamber reports that insurers compensation payments for the reporting period amounted to AZN 230.9 million.

"45.79 manats of compensation payments accounted per every 100 manat of collected premiums for Jan-Nov of the year against 48.61 manats for the 2016 same term," the Chamber said.

Premiums on voluntary types of insurance increased by AZN 44,960 up to AZN 335.76 million and compensation payments by AZN 13.688 million up to AZN 179.7 million against Jan-Nov 2016. As a whole, 67% of payments fell on the share of voluntary and 33% on the share of compulsory types of insurance.

Azerbaijan is numbering totally 21 insurance companies.


Keywords: insurance payments