17:46 - 27.06.2024

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June 27, Fineko/abc.az. Compulsory insurance premiums and compensation payments have increased in Azerbaijan.

ABC.AZ reports with reference to the Central Bank that for Jan-May 2024, the premiums on this type of insurance amounted to 161.866 million manats (6.98 million manats, or 4% more versus Jan-May 2023).

Over Jan-May 2023, this figure reached 155.768 million manats.

During this period, compensation payments on this type of insurance totaled 54.5 million manats (13.425 million manats or 33% more than a year earlier – 41.96 million manats).

The loss rate was 34% (8% more than for Jan-May 2023 - 26%).