New CTP collected more than a fifth of all insurance premiums

A consecutive quarter of compulsory liability insurance of vehicle owners to third parties (the new CTP) is a leader in premium in the insurance market of Azerbaijan - on it collected 62.5 million manat, 12.57 million more than in the recent leader - voluntary health insurance (VHI). It is worth noting that at the end of last month, a difference of 5.8 million on the background activity of car inspection and insurance agents 12 major insurers, this process was predicted before the start of the fiscal year.

In general, the amount of the insurance market of Azerbaijan (28 subsidiaries, net of reinsurance structures) in January-September amounted to 282 million 143.74 thousand manats. Growth for the year (up to October 1, 2011 collected 179.1 million manat) was 63.5%. In addition, it means that the amount of premiums per capita income is 30 manats (over $ 38). Compared to last year there is almost double the growth rate of no small level "insurance consciousness."

While in past years, premium growth was achieved largely at the expense of vehicle insurance and medical insurance, which increase each year and create a sense of non-dimensional material with limited opportunities; this year only in the 10 months they almost caught up mandatory life insurance and referred CTP. Thus, according to LCA collected 49.93 million manat, CASCO insurance - 47.09 million manat (best rate charges in the last quarter).

In this case, health insurance and accidents brought AZN 20.46 plus 12.33 million manat in general and mixed life insurance. Incidentally mentioned positions provided to the insurance market about 70% of all revenues.

The bulk of insurance premiums fell on voluntary insurance - 174.7 million or 61.9% (compared to the previous year 23.5%).

Insurance against accidents in 28 companies received 8.7 million manat, insurance of aircraft - 5.81 million manat (following six months the figure was only 212 thousand). Voluntary insurance of civil liability of aircraft owners collected 1.94 million manat (100-fold increase in comparison to the amount on July 1), cargo insurance was 13.59 million manat, and insurance of ships – 974,000 AZN.

Voluntary insurance of civil liability of vehicle owners received 1.89 million manat, property insurance against fire - 25.53 million manat, on other kinds of voluntary insurance - 465.86 thousand manats.

Insurance for foreign travel collected in aggregate 1.42 million manat, insurance of agricultural crops - 304.5 thsd, and pet insurance - 211.72 thousand manats. Voluntary premium for items such as general liability insurance - 3.03 million manat, employer liability - 1.02 million manat, professional liability - 269.3 thousand manats.

Compulsory insurance collected 107.44 million manat, for growth in the 2.39 times compared to the 10 months of 2011 (45.34 million manat). Of these, the compulsory insurance of servicemen collected 11.51 million manat, compulsory state insurance judges and law enforcement - 3.57 million manat.

Compulsory insurance of civil liability of vehicle owners (new CTP) received 62.5 million manat, compulsory property insurance - 8.98 million manat, compulsory liability insurance of owners of property - 242.16 thousand manats, and compulsory insurance of passengers - 122.29 thousand manats. - 17D-