Insurance Premiums Rise

In October, total gross premium income of insurance companies are growing for the first time in four months, the amount is the fourth largest for the year to date.

In the tenth month of 2015 30 insurance companies, 13 life insurance companies and two life insurance cooperatives realized total premium income of 158.2 million. This is 22.2% more compared to September, show the calculations.

A major share of premium income in the segment “General Insurance” occupy property insurance. Their volume to October 31, 2015 increased by 3.9% yoy. In the segment of life insurance, the largest revenue from “Life” insurance and annuities. It grows by 16.6% yoy.

Demand for insurance “disease” is formed mostly by corporate clients to protect employees as the cost on an individual basis to individuals, for example, is higher. Topics cover the areas saving, investment, credit, insurance, personal budget, family financial planning and goal setting. Within the project the students will face a financial challenge – creating a family budget, and the best of them will participate in financial innovation camp that will be held in March 2016 then will share best practices in their communities participation in local initiatives in April, the month of financial literacy.