11:50 - 23.08.2023

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August 23, Fineko/abc.az. In January-July 2023, Azerbaijan collected AZN 559.287 million of insurance premiums from voluntary types of insurance, up 27.5% year-on-year, ABC.AZ reports with reference to the Central Bank.

Over the past 7 months, the receipts by types of compulsory insurance increased by 42.8% compared to the same period last year, reaching AZN 202.514 million.

For the types of voluntary insurance for the reporting period, the amount of payments amounted to AZN 221.326 million, which is 18.5% more than a year ago. Over the year, the amount of payments by types of compulsory insurance increased by 13.4%, reaching AZN 61.651 million.

Thus, in January-July of this year, up to AZN 39.6 of insurance premiums were paid on the voluntary insurance market for every AZN 100 collected. This figure for the same period last year amounted to AZN 42.6. Over the year, in the compulsory insurance market, the amount of insurance premiums for every AZN 100 fell from AZN 38.3 to AZN  30.4,.