Azerbaijan observes 5-fold growth on cargo insurance payments

11:46 - 6.02.2024


February 6, Fineko/abc.az. Azerbaijan has reported about growth of freight insurance premiums and compensation payments, ABC.AZ informs with reference to the Central Bank.

Over Jan-Dec 2023, the premiums on this type of insurance amounted to 5.988 million manats (559,000 manats or 10.3% more versus Jan-Dec 2022 – 5.428 million manats).

Compensations on this type of insurance were paid for 211,000 manats (169,000 manats or 5-fold more against 2022 – 42,000 manats).

The loss rate for Jan-Dec 2023 was 3.5% (2.7% more than a year ago) and for Jan-Dec 2022 - 0.8%.