13:08 - 1.10.2024

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October 1, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) is studying the profitability of compulsory real estate insurance.

ABC.AZ reports, quoting CBA general director Shahin Mahmudzadeh as saying this at the presentation of the financial stability report for the first half of 2024.

"The CBA has started working on the profitability of compulsory real estate insurance, where there is a low coefficient of payments to fees. We can predict a further increase in unprofitability in this sector," he stressed.

Mahmudzadeh also mentioned that currently the highest level of unprofitability is noted in the segment of compulsory civil liability insurance for owners of motor vehicles.

"By the end of this year, this figure may reach 80%, which corresponds to international standards," Mahmudzadeh added.