BAKU, Azerbaijan, Aug. 6
By Zeyni Jafarov - Trend:
The volume of fees on voluntary insurance of air transport decreased by 26.6 percent in Azerbaijan for the year, Trend reports with reference to the data of the Central Bank of Azerbaijan (CBA).
According to the CBA, which is the regulator of the local insurance market, fees on this segment in the first half of the year exceeded four million manat ($2.3 million) compared to 5.6 million manat ($3.3 million) by the end of June 2020.
Insurance payments on voluntary insurance of air transport, having decreased on an annual basis by 31.6 percent, equaled 1.1 million manat ($647,058).
The share of this type in the total fees and payments for voluntary property insurance is 5.7 percent and 9.6 percent, respectively.
In general, the Azerbaijani insurance companies collected insurance premiums in the amount of over 452 million manat ($265 million) during the first six months of this year and paid 248 million manat ($145 million).
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