BAKU, Azerbaijan, June 12
By Zeyni Jafarov – Trend:
Fees on the segment of Compulsory Insurance of Civil and Legal Liability of Vehicle Owners (OSAGO) in Azerbaijan increased by 9.5 percent from January through April 2021, compared to the same period of 2020, making up 28.7 million manat ($16.8 million), Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, in the first 4 months of 2020, fees on OSAGO insurance in the country amounted to 26.2 million manat ($15.4 million).
At the same time, the amount of fees for voluntary civil liability insurance of vehicle owners has doubled on annual basis, up to 530,000 manat ($311,764).
On the type of voluntary insurance of motor vehicles, 10.2 million manat ($6 million) of insurance fees were collected during the reporting period, and about 4.77 million manat ($2.8 million) were paid.
In total, by early May, Azerbaijani insurance companies collected over 339 million manat ($199.4 million) of insurance fees, and paid about 180 million manat ($105.8 million).
(1 USD = 1.7 AZN on June 12)
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