The market Azerbaijani insurance has improved around 30%
The Ministry of Finance said that the payment of insurance improved from 17.5% to AZN 36,318 million. The fee of insurance, which had been collected by the insurance companies that operated in Azerbaijan were AZN 134,437 million in January-August, 2011, which had exceed the last year’s figure by 30.4%.
Life insurance fee’s volume had increased for 2,2 times to AZN 2,105 million, but non-life insurance rose by 17% to AZN 93,940 million. Compulsive insurance volume improved by 74% to AZN 38,391 million. Life insurance payment went down by 43,4% to AZN 142,032 million, but non-life insurance rose by 18.5% to AZN 29,637 million and compulsive insurance payment had improved by 15.5% to AZN 6,479 million.
The insurance fees, which had been collected in the field of military servicemen insurance was AZN 11,285,car insurance was AZN 28,127 million, fire insurance was AZN 16,789 m million, medical insurance was AZN 21,734 million, industrial accident insurance was AZN 14,839 million. Then, the percentage of these insurance fees were respectively 8.4%, 20.9%, 12.5%, 16.2%,11%.
In the field of payment,most resources which had much spent for medical insurance (AZN 12.283 m or 33.8%), car insurance (AZN 10,443m or 29%), military servicemen insurance (AZN 4,788 m or 13.1%), fire insurance (AZN 1,801 m or 5%). At this time, 27 insurance companies have been operating in Azerbaijan.
