BAKU, Azerbaijan, Feb. 18
By Nazrin Israfilova - Trend:
The payments of Azerbaijan’s Nakhchivan Sigorta insurance company in 2021 surged, the Azerbaijan Insurers Association told Trend.
According to the association, this figure amounted to 422,000 manat ($248,240), up by 8.6 times on an annual basis.
Besides, last year, Nakhchivan Sigorta collections increased by 800,000 manat ($470,590), or 56.2 percent, compared to 2020, standing at 2.5 million manat ($1.4 million).
Meanwhile, the company’s share in the Azerbaijani market’s insurance collections equaled 0.29 percent, and the share of payments – 0.09 percent.
In 2021, the total collections of Azerbaijani insurance companies amounted to 843.8 million manat or $496.3 million (an increase of 15.8 percent over the year), and total payments - 458.7 million manat or $269.8 million (a decrease of 1.4 percent).
(1 USD = 1.7 AZN on Feb. 18)
