In the first half of 2016, the insurance sector of Azerbaijan increased

During the first half of 2016 twenty five  insurance companies calculated the amount of insurance charges on 283 300 000. Manats. This figure compared with the same period last year is by  42.950 million manat more, 17.7%,  reads the report  of the Chamber of Control for the financial markets. During this period, insurers made insurance payments by 101.4 million manat, that in comparison with 2015 more than 10.1%.

Positive dynamics is also observed for voluntary and compulsory insurance. Thus, during the period from January to June for the types of voluntary insurance charges increased by 15.54%,  and amounted to 177.1 million manat, and payments increased by 4.93% , and amounted to 75.1 million manats.

In the life insurance market fees increased by 35%, and payments by 1.2%. On the market of another insurance fee has increased by 7.5%, payment of a 5% down. During the reporting period in the insurance market for every collected 100 manats was made the payment in the amount of 35.5 manats. This figure for the same period  of last year was 38 manat.

The following table provides details of insurance charges and insurance payments on insurance companies and insurance classes for January-June 2016. For more information, media may contact  press@fmsa.az.

Information  on counted insurance accruals and insurance payments for January-June 2016

(based on operating data) (in manats)

Name of insurance organization

insurance accruals

insurance payments

1

“A-Qroup Sığorta Şirkəti” Открытое Акционерное Общество (ОАО)

2,434,943.04

4,142,378.13

2

“AXA MBASK” ОАО

11,390,966.11

4,195,580.89

3

“Alfa Sığorta” ОАО

1,019,840.50

654,516.46

4

“AtaSığorta” ОАО

4,776,151.24

1,594,885.37

5

“Atəşgah Həyat” Sığorta Şirkəti  ОАО

19,956,368.71

16,679,922.00

6

“Atəşgah” Sığorta Şirkəti ОАО

21,328,042.32

7,319,650.96

7

“AzSığorta” ОАО

10,591,063.26

3,358,809.91

8

State insurance commercial company of the Azerbaijan republic

32,696,541.00

8,940,242.00

9

“Azərbaycan Sənaye Sığorta” ОАО

2,702,307.24

1,587,423.05

10

“Azərqarant Sığorta” ОАО

195,444.31

655.82

11

“Bakı Sığorta” ОАО  

627,330.76

400,927.62

12

“Başak İnam Sığorta Şirkəti” ОАО

417,884.84

82,184.85

13

“Beynəlxalq Sığorta Şirkəti” ОАО

3,516,608.20

1,728,611.29

14

“Buta Sığorta” ОАО

593,950.50

913,332.90

15

“Günay Sığorta” ОАО

1,347,409.50

14,032.86

16

“Mega Sığorta” ОАО

13,803,271.64

1,333,005.96

17

“Paşa Həyat Sığorta” ОАО

45,029,690.57

10,661,883.21

18

“Paşa Sığorta” Şirkəti ОАО

64,610,892.59

20,849,758.25

19

“Qala Həyat” Sığorta Şirkəti ОАО

16,947,738.00

9,423,532.64

20

“Rəvan Sığorta” ОАО

546,218.84

432,320.93

21

“Standard Insurance” Sığorta Şirkəti ОАО

12,523,236.69

4,200,102.27

22

“Xalq Sığorta” ОАО

4,745,215.83

2,804,122.11

23

“Qala Sığorta” ОАО

3,447,601.00

0.00

24

“İPƏK YOLU SIĞORTA” ASC

10,055,497.55

39,512.37

25

“Əmrah Sığorta” ОАО

44,551.68

63,088.28

 

TOTAL

285,348,765.92

101,420,480.13

Information about the calculated insurance accruals and insurance payments for January-June 2016

(on the basis of operational information) (in manats)

Insurance classification

insurance accruals

insurance payments

On voluntarily insurance  - total :

177,136,487.87

75,145,640.81

Including:

 

 

Life insurance

60,606,742.68

35,097,534.20

including:

 

 

Insurance from death  in life

15,570,472.00

1,516,165.24

Life insurance

45,005,148.99

33,581,368.96

Insurance annuity

0.00

0.00

Disability insurance

42,516.57

0.00

Insurance of incurable diseases

-11,394.88

0.00

Not life- other insurance

116,529,745.19

40,048,106.61

Including :

 

 

Personal insurance

55,494,147.23

30,872,544.22

 Including :

 

 

Insurance of personal accident and sickness

2,301,312.58

502,380.03

Medical insurance

52,028,895.88

30,239,407.46

Insurance of people leaving abroad

1,163,938.77

130,756.73

Property insurance

61,035,597.96

9,175,562.39

Including:

 

 

Property insurance

47,481,729.78

8,967,183.19

Including :

 

 

Insurance of property against fire and other risks

21,032,514.90

1,117,115.62

Insurance of  cars

11,373,023.98

7,471,878.80

Insurance of railway  transport

316,133.25

0.00

Insurance of air transport

7,055,246.81

0.00

Insurance of water  transport

3,948,940.51

18000

Cargo insurance  (transport)

1,912,489.83

72,157.08

Insurance of  harvest of agricultural plants

414,797.53

0.00

Insurance of agricultural animals

1,217,276.80

288,031.69

Other classes connected with property insurance

211,306.17

0.00

including :

 

 

insurance of fraud  of workers

211,306.17

0.00

Insurance of money  and financial documents from falsification

0.00

0.00

Insurance of title

0.00

0.00

Insurance of civil activity

13,550,847.89

176,914.85

Including:

 

 

Civil liability insurance of vehicle owners

985,852.93

44,938.20

Civil liability insurance of railway transport owners

0.00

0.00

Civil liability insurance of air transport owners

2,141,913.88

20,000.00

Civil liability insurance of water transport owners

365,632.99

0.00

Insurance of  civil liability of  carriers

23,786.32

11,871.27

Insurance of  civil liability  in civil-legal  documents

242,027.02

0.00

Insurance of professional liability

1,556,675.51

0.00

Insurance of liability of employer

249,013.14

3,160.84

Insurance of  common civil  liability

7,985,946.10

96,944.54

Insurance of juridical expenses

0.00

0.00

Insurance of  credits

3,020.29

31,464.35

Including:

 

 

Insurance of credits

3,020.29

31,464.35

Mortgage  insurance

0.00

0.00

Insurance of mixed financial risks

0.00

0.00

Including :

 

 

Insurance risk of falling market value of property

0.00

0.00

risk insurance in connection with the work stoppage

0.00

0.00

On compulsory  insurance  - total

108,212,278.05

26,274,839.32

including:

 

 

Life insurance

21,327,054.60

1,667,803.65

including:

 

 

Compulsory insurance of accidents at work and disability resulting from occupational diseases

21,327,054.60

1,667,803.65

Life (other) insurance

86,885,223.45

24,607,035.67

including :

 

 

Compulsory insurance of civil liability of vehicle owners

0.00

0.00

Compulsory insurance of  passengers

0.00

0.00

Compulsory environmental insurance

0.00

0.00

Compulsory insurance against fire

0.00

0.00

Compulsory insurance  of MPs

94,230.00

0.00

Insurance of medical personnel on AIDS

0.00

0.00

Compulsory state personal insurance of military servicemen

16,131,912.00

5,893,448.00

State compulsory personal insurance of employees of courts and law enforcement agencies

10,755,313.00

546,958.00

Compulsory insurance of civil servants

0.00

0.00

Compulsory insurance of diplomatic representatives

0.00

0.00

Compulsory insurance of professional liability of auditors

3,930.00

0.00

Compulsory insurance of immovable property

16,758,403.98

720773.57

Compulsory insurance of civil liability in connection with the operation of real estate

187,200.00

580

Compulsory insurance of civil liability of vehicle owners

42,894,302.47

17445276.1

Compulsory private disaster insurance of passengers

59,932.00

0.00

TOTAL

285,348,765.92

101,420,480.13

 

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