BAKU, Azerbaijan, October 10. The volume of fees for credit insurance in Azerbaijan increased almost by 6.5 times year-on-year as of September 1, 2022, Trend reports via 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 795,700 manat ($468,058) from January through August 2022 compared to 122,900 ($72,294) in the same period the previous year.
Generally, Azerbaijani insurance companies collected insurance premiums in the amount of more than 654 million manat ($384.7 million) from January through August 2022 and paid out 283.6 million ($166.8 million).