Number of compulsory real estate insurance contracts in Azerbaijan almost triples
BAKU, Azerbaijan, Jan. 14
By Fidan Babayeva - Trend:
The Azerbaijan Insurers Association (AIA) has announced the number of contracts concluded by local insurance companies on compulsory real estate insurance, the AIA told Trend.
According to the AIA, in the first 10 months of 2020, five companies that have distinguished themselves with particular activity in the market concluded 149,478 contracts of compulsory real estate insurance with the population and entrepreneurs.
In the same period of 2019, the number of the aforementioned concluded contracts was equal to 53,000 units, said the association.
According to the latest published summary data for the first 11 months of 2020, local insurance companies paid compulsory real estate insurance premiums worth 38.6 million manat ($22.7 million), which is 6.5 million manat ($3.82 million) more than in the same period of 2019.
At the same time, insurance premiums worth 3.7 million manat ($2.14 million) were paid for this type of insurance from January through November 2020.
(1 USD = 1.7 manat on Jan. 14)