AZERBAIJAN: Life insurance fell below 12.78% of total volume of Azerbaijan's insurance market

Life insurance premiums fell to 12.78% against 13.6% of the overall insurance premiums of Azerbaijan for Jan-June 2012.

The State Insurance Supervision Service under the Ministry of Finance of Azerbaijan reports that by 1 August 2012 three life insurance companies gathered AZN 25.753 million against the 28 insurers' overall premiums of AZN 201.509 million and paid compensations for AZN 1.908 million, while total payments reached AZN 49.469 million.

The basis of the life insurance market consisted of compulsory types of insurance - premiums of AZN 17.269 million and compensation payments of AZN 795.000. Voluntary life insurance brought AZN 8.483 million with compensation payments for AZN 1.113 million.

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