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Insurance premiums have increased

06.08.2020,12:29


August 6, Fineko/abc.az. Two-way recovery was observed in the domestic insurance market over the first 6 months of 2020.

There is a noticeable rise in both insurance premiums and compensation payments.

Thus, 21 insurance companies operating in Azerbaijan collected more than 400 million premiums.

ABC.AZ reports that according to the Center for Analysis of Economic Reforms & Communications, the compensations paid by the local insurers amounted to about AZN 185 million.

If to compare the relevant indicators of the last few years, it is seen that in the 1st half of this year the premiums grew by 10% with taking into account the same term of 2019, even in 2018, when record figures were observed.

Despite the fact that compensation payments for the last 2 years have remained stable, the current year has shown an increase against the same period in 2018 and 2019.