Azerbaijan observes growth of voluntary insurance

12:08 - 30.11.2022


November 30, Fineko/abc.az. Over the past 10 months the insurers companies gathered AZN 601.85 million of voluntary insurance (24.7% more versus Jan-Oct 2021), ABC.AZ reports with reference to the Central Bank.

Over Jan-Oct 2022, income on compulsory insurance decreased by 12.2% (against 2021) to AZN 195.8 million.

As for voluntary insurance compensations for Jan-Oct 2022, they were paid for AZN 279.219 million (6.9% less than a year ago). This year, the amount of payments on compulsory insurance declined by 21% to AZN 71.848 million.

Thus, for Jan-Oct 2022, up to 46.4 manats out of every 100 manats of voluntary insurance premiums were paid. Over Jan-Oct 2021, this figure reached 62.1 manats. The amount of compulsory insurance premiums for every 100 manats dropped from 45.45 to 40.9 manats.

 

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