BAKU, Azerbaijan, Aug. 13
By Zeyni Jafarov - Trend:
Fees on voluntary property insurance against fire and other additional risks in Azerbaijan increased by 49.2 percent in the first half of 2021 compared to the same period of 2020 and exceeded 29 million manat ($17 million), Trend reports citing the report of the Central Bank of Azerbaijan (CBA).
According to the CBA, which is the regulator of the local insurance market, fees for this segment in the first half of last year amounted to 19.7 million manat ($11.6 million).
Insurance payments on voluntary property insurance against fire and other additional risks increased 2.5 times over the year and amounted to 2.9 million manat ($1.7 million), the report said.
The share of this segment in the total fees and payments on voluntary property insurance amounted to 40.2 and 24.6 percent, respectively.
The fees of Azerbaijani insurance companies in the first half of the year as a whole exceeded 452 million manat ($265.8 million), and payments amounted to 248 million manat ($145.8 million).
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