BAKU, Azerbaijan, June 18
By Yusif Aghayev - Trend:
Azerbaijani insurers collected fees on compulsory types of insurance in the amount of 21.2 million manat ($12.4 million) in April 2020, which is over 3.4 million manat ($2 million) or 19.2 percent more than in the same month last year, Trend reports referring to the published report of the Central Bank of Azerbaijan.
In the reporting month, the main growth accounted for fees on compulsory insurance against accidents at work and occupational diseases. They amounted to 10.5 million manat ($6.1 million), which is 5.5 million manat ($3.2 million) or over twice more than in April last year.
Fees for compulsory types in the non-life insurance segment showed fall. The fees on compulsory liability insurance of vehicle owners (OSAGO) amounted to 6.8 million manat ($4 million) in April 2020, which is 2.1 million manat ($1.2), or 24 percent less than in the same month last year (9 million manat or $5.3 million).
The collected fees on compulsory liability insurance related to the use of real estate, after steady growth in 1Q2020, also showed drop by 202,000 manat ($118,820) or 5.5 percent to make up 3.4 million manat ($2 million) in April 2020 compared to 3.6 million manat ($2.1 million) in the same month of 2019, while the amount of fees on compulsory passenger insurance decreased by only 1,000 manat ($590), standing at 33,000 manat ($19,400) against 34,000 manat ($20,000) in April 2019.
Azerbaijani insurance companies collected the premiums worth 70.5 million manat ($41.4 million) in April 2020, which is 6.4 million manat ($3.7 million) or over 10 percent more than in the same month of 2019.
Presently, 21 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on June 18)
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