BAKU, Azerbaijan, November 30. The fees for compulsory real estate insurance in Azerbaijan rose to 70.9 million manat ($41.7 million) from January through October 2024.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that this is an increase of 3.3 percent, or 2.28 million manat ($1.34 million), compared to the same period last year.
The amount collected from mandatory real estate insurance premiums in Azerbaijan was 68.6 million manat ($40.3 million) in January-October 2023.
However, the volume of payments for compulsory real estate insurance during this period totaled 2.56 million manat ($1.50 million), which is 2.68 million manat ($1.57 million), or 51.1 percent, less than in the same period last year.
For the first ten months of 2023, payments for this type of insurance amounted to 5.24 million manat ($3 million).
