Premiums on voluntary life insurance in case of death increased

17:42 - 4.04.2024

April 4, Fineko/ Azerbaijan observes growth on the premiums and compensation payments on voluntary life insurance in case of death.

ABC.AZ reports with reference to the CBA that for Jan-Feb 2024, the premiums on this type of insurance amounted to 5.28 million manats (1.128 million manats, or 27% more against Jan-Feb 2023 – 4.154 million mantas).

Payments on this type on insurance totaled 378,000 manats (214,000 manats or 2.3-fold more than a year earlier – 37.517 million manats).

And the loss rate was 7%. The loss rate increased by 3% over the past year. For the same period of 2023, the loss rate was 4%.