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CBA shares statistics on Azerbaijan's credit insurance premiums

Finance Materials 28 March 2023 14:09 (UTC +04:00)
CBA shares statistics on Azerbaijan's credit insurance premiums
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 28. Azerbaijan's credit insurance premiums increased by 2.9 times from January through February 2023 compared to the same period of the previous year, Trend reports via the report of the Central Bank of Azerbaijan.

There are currently 20 insurance companies operating in Azerbaijan.

According to the bank, in the reporting period, the premiums totaled 453,700 manat ($266,891) against 154,500 manat ($90,885) in the same months of 2022.

In January 2023, this figure amounted to 110,300 manat ($64,882), decreasing 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 221.067 million manat ($130.04 million) and paid out 70.5 million manat ($41.4 million) from January through February 2023.

In 2022, all insurance companies of Azerbaijan collected insurance premiums in the amount of 970.8 million manat ($571.07 million), while their insurance payments equaled 433.2 million manat ($254.8 million).

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