VHI and the hull not the leaders of the insurance market of Azerbaijan

In 2012, mandatory liability insurance of vehicle owners to third parties (the new CTP) has become the undisputed leader in the premium on the insurance market of Azerbaijan - on it collected 72,282,110 manats, 12.95 million more than voluntary health insurance (VHI) and 15.8 million more voluntary auto insurance (CASCO). It is worth noting that in January-September, the difference between first and second place was 5.8 million at the background traffic police activity and hundreds of 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-November was 342,519,350 manats. Growth for the year (up to December 1, 2011 collected 212.98 million manat) was 37.8%.

In addition, it means that the amount of premiums per capita is 36.44 manats (just under $ 46.5). Compared to last year there is more than 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, this year they caught up CTP and approached life insurance. Thus, according to VHI they collected 59.85 million manat, CASCO insurance - 56.7 million manat (second rate charges in the last quarter). Health insurance and accidents brought AZN 21.73 mln plus 15.09 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 - 215 million manat, or 2 million exceeded the entire local market in the past year. Thus, according to accident insurance received a total of 10.36 million manat, insurance of aircraft - AZN 6 million (based on the half-year figure was only 212, 000). Voluntary insurance of civil liability of aircraft owners fees totaled 1.92 million manat (100-fold increase in comparison to the amount on July 1), cargo insurance made up 16.08 million manat, and insurance of vessels made up 950,310 manat.

Voluntary insurance of civil liability of vehicle owners received 2.2 million manat, property insurance against fire - 37.16 million manat, on other kinds of voluntary insurance - 511,980 manat (most of the staff on fraud).

Insurance for foreign travel is collected in aggregate 1.61 million manat, insurance of crops - 579 580, and insurance of pets - 467,550 manat.

Voluntary premiums were also collected for items such as general liability insurance - 3.76 million manat, employer liability - 1.15 million manat, and professional liability - 283,490 manat.

Compulsory insurance collected 127.52 million manat, which ensured the growth of 2.2 times compared to last year. Of these, the compulsory insurance of servicemen collected 15.77 million manat, compulsory state insurance judges and law enforcement - 5.77 million manat.

Compulsory insurance of property received 11.41 million manat, compulsory liability insurance of property - 309,230 manat,and  on compulsory insurance of passengers - 118,290 manat. - 17D-


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