17:56 - 27.12.2023

---

December 27, Fineko/abc.az. The premiums and compensation payments on motor vehicle insurance have increased in Azerbaijan.

ABC.AZ reports with reference to the Central Bank that for Jan-Nov 2023, the premiums on this type of insurance amounted to AZN 47.642 million (AZN 8.97 million, or 23% more against Jan-Nov 2022 – AZN 38.669 million).

Compensations on this type of insurance were paid for AZN 18.27 million (AZN 3.56 million, or 20% more versus Jan-Nov 2022 – AZN 15.215 million).

And the loss rate for the reported term was 38%. The loss rate has decreased by 1% this year. Over Jan-Nov 2022, the loss rate was 39%.