Baku. Musa Ahmadov – APA-Economics. Azerbaijan-based 25 insurers collected AZN 390 million insurance premiums in January-September 2016, up 15.1% or AZN 51 million from previous year, The Financial Markets Supervisory Authority told APA-Economics.
Insurance payments during six months made AZN 167 million, up 31% from 2015.
Premiums and payments on voluntary insurance types relevantly increased 18.7% and 32.2% to AZN 250.8 million and AZN 125.4 million. Premiums an payments on compulsory insurance types relevantly increased 9% and 27.7% to AZN 140 million adn 41.5 million.
The life insurance premiums in the reporting period made up 29.7% or AZN 116 million. So, premiums on voluntary life insurance increased 42.4%, payments – 1.9 times. In the premiums on life insurance, AZN 61 million or 52.7% came from endowment insurance, AZN 27.8 million or 24% from insurance against accidents at work, AZN 26.9 million or 23.1% from death insurance. Endowment insurance rose 1.2 times, death insurance – 2.7 times.
Premiums in voluntary non-life insurance surged 8.9%, payments 1%. On compulsory types, these figures relevantly grew 10.8% and 26.1%.
During the nine months of 2016, 75.1% of total payments went to voluntary insurance types, 24.9% to compulsory insurance types. In the reporting period, AZN 42.8 was paid for each AZN 100 insurance premium, while it was AZN 37.6 in 2015
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