Disability insurance market has increased in Azerbaijan

12:38 - 23.11.2023

November 23, Fineko/abc.az. The premiums and compensation payments on disability insurance have increased in Azerbaijan, ABC.AZ reports, referring to the Central Bank.

Over Jan-Oct 2023, the premiums on this type of insurance amounted to AZN 1.553 million (AZN 348,000, or 28.9% more against Jan-Oct 2022 - AZN 1.205 million.

Compensations on this type of insurance were paid for AZN 70,000 (AZN 37,000, or 2.2-fold more than a year earlier - AZN 32,000).

The loss rate for Jan-Oct 2023 was 4.5%. The loss rate has increased by 1.8% this year. For the 2022 same term, the loss rate was 2.7%.

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