Azerbaijani insurers’ summary premiums for the first half of the year exceeded premiums for entire 2010
Baku, Fineko/abc.az. Azerbaijan’s overall insurance premiums for June totaled AZN 24.752 million.
Voluntary types of insurance keep on leading in the insurance market of the country.
The State Insurance Supervision Service under the Ministry of Finance reports that for Jan-June 2012 the country’s 28 insurers gathered AZN 169.455 million of premiums and paid AZN 41.444 million of compensations.
However, only AZN 64.216 million of premiums and AZN 5.8 million of compensation payments accounted for mandatory insurance.
The basis of voluntary insurance turnover consisted of property insurance (premiums for AZN 53.529 million and compensations for AZN 15.236 million) and personal insurance (AZN 44.08 million and AZN 19.9 million respectively).
By 1 January 2011 the country’s 27 insurers collected AZN 155.586 million of premiums and paid AZN 53.829 million of compensations. Total premiums of 28 companies following last year made AZN 212.981 million and payments 61.657 million.
As a result, by 1 July 2012 local insurers premiums were equal to 108,9% of premiums for 2010 and 79,6% for 2011.
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