BAKU, Azerbaijan, July 4. The volume of fees for credit insurance in Azerbaijan considerably increased from January through May 2022, Trend reports via the reporting data of the Central Bank of Azerbaijan (CBA).
According to the CBA, which is the regulator of the local insurance market, this figure amounted to 202,200 manat ($118,940), up by almost 2.57 times compared to the first five months in 2021 (78,600 manat or $46,240).
Generally, Azerbaijani insurance companies collected insurance premiums in the amount of more than 426 million manat ($250.6 million) from January through May 2022 and paid out 129 million manat ($75.8 million).