BAKU, Azerbaijan, Apr. 22
By Zeyni Jafarov - Trend:
Insurance fees for all types of insurance in the Nakhchivan Autonomous Republic of Azerbaijan decreased by 19.9 percent in the first quarter of 2021 compared to the same period of 2020, Trend reports citing the report of Nakhchivan’s State Statistical Committee.
Reportedly, the total amount of insurance fees for the reporting period amounted to 1.65 million manat ($970,588).
“Revenues from voluntary insurance amounted to 327,500 manat ($192,647), and from compulsory insurance - 1.32 million manat ($776,470),” the report said.
“Moreover, at the beginning of 2020, in order to ensure sustainable development of the agricultural sector, by the decree of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic, Vasif Talibov, an ‘Agricultural Insurance Fund’ was created,” the committee said.
“By early March 2021, through the first regional insurance company in Azerbaijan, Nakhchivan Sigorta, fees worth 294,000 manat ($172,941) were collected in the autonomous republic. At the same time, insurance payments worth 31,000 manat ($18,235) were paid out to customers,” the report said.
(1 USD = 1.7 AZN on Apr.22)
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