BAKU, Azerbaijan, May 2. About 210,000 electronic contracts were concluded in Azerbaijan on compulsory third-party liability insurance from January 1 through April 27, 2023, Executive Director at the country’s Compulsory Insurance Bureau Rashad Ahmadov said, Trend reports.
According to him, the monthly number of contracts concluded was about 70,000.
Fees in the segment of civil liability insurance of motor vehicle owners increased by 64.33 percent over the year to 35.6 million manat ($20.9 million) from January through March 2023.
Overall, Azerbaijani insurance companies collected insurance premiums in the amount of over 221 million manat ($129.9 million), while companies' payments amounted to 70.5 million manat ($41.4 million).