Volume of required premiums for 11 months reached last year"s level of insurance market in Azerbaijan

Almost six months compulsory liability insurance of vehicle owners to third parties (the new CTP) is a leader in premium in the insurance market of Azerbaijan - it collected 68 million 585,850 manat, which is 16.3 million greater than that of voluntary health insurance (VHI) and voluntary motor insurance (CASCO), coming up. It is worth noting that in January-September, the difference was 5.8 million. Amid traffic police activity and hundreds of insurance agents of 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 312 million 968 990 AZN. Growth for the year (up to December 1, 2011 collected 193.8 million manat) was 38.1%. In addition, it means that the amount of premiums per capita is 33.3 manats (just under $ 42.5). 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's first 11 months of catching not only CTP, who became the leader, and even life insurance. Thus, according to LCA collected 52.26 million manat, CASCO insurance - 52.16 million manat (second rate charges in the last quarter).

In this case, health insurance and accidents brought AZN 20.8 million 13.82 thsd plus 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 - 193.3 million manat, which is equal to all of the local market the same period last year. Thus, according to accident insurance received a total of 9.41 million manat, insurance of aircraft - 5.88 million manat (up to half of this figure was only 212 thousand). Fees on voluntary insurance of civil liability of aircraft owners totaled 1.94 million manat (100-fold increase in comparison to the amount on July 1), cargo insurance - 14.8 million manat, and insurance of vessels - 922,300 manat.

Voluntary insurance of civil liability of vehicle owners received 2.02 million manat, property insurance against fire - 32.74 million manat, on other kinds of voluntary insurance - 486,660 manat (most of the staff on fraud).

Insurance for foreign travel collected in aggregate 1.5 million manat, insurance of agricultural crops - 305 620, on pets - 212,940 manat. Collected was also general liability insurance - 3.27 million manat, employer liability - 1.08 million manat, and professional liability - 270,540 manat.

Compulsory insurance collected 119.64 million manat, which ensured the growth of 2.7 times compared to the first 11 months of 2011. Of these, the compulsory insurance of servicemen collected 15.19 million manat, compulsory state insurance judges and law enforcement - 4.44 million manat.

Compulsory insurance of civil liability of vehicle owners (new CTP) received 68.59 million manat, compulsory property insurance - 10.17 million manat, compulsory liability insurance of owners of property - 265,120 manat, on compulsory insurance of passengers - 122,410 manat. - 17D-

 

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