BAKU, Azerbaijan, February 4. Azerbaijan's credit insurance premiums amounted to 110,300 manat ($64,882) in January 2023, Trend reports via the Azerbaijani Central Bank's report.
This figure decreased by 35.01 percent year over year (81,700 manat, $48,059 in the same period of 2022).
In total, Azerbaijani insurance companies collected insurance premiums worth over 133.9 million manat ($78.7 million) and paid out 35.168 million manat ($20.68 million).
Credit insurance constitutes an insurance payment for the full or partial compensation for damage caused to the lender following bankruptcy or death of the creditor, as well as non-repayment of debt (credit) due to the impossibility of fulfilling its obligations for other reasons.