18% growth in Azerbaijan’s insurance market

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According to Azerbaijan’s Financial Monitoring Service, in the first half of 2016 the 25 insurance companies that work in Azerbaijan have collected 285,3 mln. AZN of insurance premiums. This is 17,7% or 42,95 mln. AZN increase compared to the same period last year.

The report states that a positive dynamic can be seen both in voluntary and mandatory insurances.

As for voluntary insurance, the companies have collected 15,54% more and paid 4,93% more and thus constituted 177,1 and 75,1 mln. AZN subsequently.

Life insurance market has risen on 35% and payments of this kind 1,2 times. Other kinds mad the companies collect 7,5% more while insurance payments have dropped 5 times.

For every 100 AZN 35,5 AZN was paid. This number was 38 AZN in the January-June period.

2016.08.10 / 13:59
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