BAKU, Azerbaijan, Feb. 17
By Nazrin Israfilova - Trend:
The insurance fees of Azerbaijan’s Gunay Sigorta (Gunay Insurance) company for 2021 amounted to 9.7 million manat ($5.7 million), which is by 7.4 percent or 0.67 million manat ($0.39 million) more compared to 2020, the Azerbaijan Insurers Association told Trend.
Moreover, the fees for 2020 amounted to 9.03 million manat ($5.3 million). The insurance fees of Gunay Insurance for 2021 amounted to about four million manat ($2.3 million), which is by 66.6 percent or 1.6 million manat ($941,176) more compared to 2020. The payments for 2020 amounted to 2.4 million manat ($1.4 million).
The share of Gunay Insurance in the insurance market in 2021 amounted to 1.14 percent in terms of fees while 0.87 percent in terms of payments.
The total fees of Azerbaijani insurance companies amounted to 843.9 million manat $496.4 million (an increase of 15.8 percent for the year) while total payments - 458.7 million manat $269.8 million (decrease of 1.4 percent for the year) in 2021.