Decline reported on premiums on insurance of travelers abroad

12:05 - 1.03.2024

March 1, Fineko/ Azerbaijan observes decline on the premiums and growth on compensation payments on insurance of citizens traveling abroad.

ABC.AZ reports with reference to Central Bank's report that this January, the premiums on this type of insurance amounted to 326,000 manats (45,000 manats or 12.1% less against January 2023 – 371,000 manats).

The compensations on this type of insurance were paid for 28,000 manats (20 manats or 3.5-fold more versus January 2023 – 8,000 manats).

The loss rate was 8.7% for January 2024 and 2.2% for January 2023. So, growth of the loss rate made up 6.6% this year.