BAKU, Azerbaijan, Jan. 27
By Zeyni Jafarov – Trend:
Insurance coverage for all types of insurance in the Nakhchivan Autonomous Republic of Azerbaijan is estimated at over 8.8 million manat ($5.17 million) in 2020, Trend reports citing the report of Nakhchivan’s State Statistical Committee.
This figure reflects an annual growth of 5.6 percent, said the committee report.
Voluntary insurance revenues in 2020 increased by 23.8 percent compared to 2019.
Also, in order to ensure sustainable development of the agricultural sector, by the decree of the Chairman of the Supreme Majlis of the Nakhchivan Autonomous Republic, the Agricultural Insurance Fund was created in Nakhchivan at the beginning of 2020.
By early December 2020, through the first regional insurance company in Azerbaijan – Nakhchivansigorta, Nakhchivan collected premiums worth 1.52 million manat ($894,117), and paid 33,000 manat ($19,411) of insurance fees to customers.
(1 USD = 1.7 AZN on Jan. 27)
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