BAKU, Azerbaijan, Feb. 17
By Nazrin Israfilova – Trend:
The payments of the Azerbaijani Az Insurance OJSC increased by 28.07 percent, or 1.6 million manat ($941,733) in 2021 compared to 2020, up to 7.3 million manat ($4.29 million), the Azerbaijan Insurers Association (AIA) told Trend.
Following the results of 2021, Az Insurance payments decreased by 9.6 percent, or 1.2 million manat ($706,234) compared to 2020, down to 11.3 million manat ($6.6 million).
The share of Az Insurance fees in the Azerbaijani market made up 1.33 percent, while the share of payments amounted to 1.59 percent in 2021.
In 2021, the total fees of Azerbaijan's insurance companies reached 843.897 million manat, or $496.7 million (an increase of 15.8 percent compared to 2020) and total payments – 458.7 million manat, or $269.9 million (a decrease of 1.4 percent).