Official forecast: Insurance sector to operate at a loss starting from this month


March 31, Fineko/abc.az. The Central Bank of Azerbaijan has published the financial indicators of the insurance sector for Jan-Feb.

ABC.AZ reports with reference to the CBA that for Jan-Feb of the current year 22 insurance companies in Azerbaijan collected premiums for AZN 190.7 million (by AZN 57.925 million or 43.6% more against Jan-Feb 2019).

The premiums were gathered in the total amount of AZN 112.26 million for January and AZN 78.718 million for February. Thus, compared with January, the premiums for February decreased by AZN 33.308 million.

As for compensation payments, they were paid for AZN 49.29 million for Jan-Feb 2020 versus AZN 33.116 million for Jan-Feb 2019.

The restrictive measures relating to the coronavirus epidemic are also going to affect negatively the domestic insurance sector in March.

By Elmir Murad