BAKU, Azerbaijan, July 15
By Zeyni Jafarov – Trend:
Collections on the segment of Compulsory Insurance of Civil and Legal Liability of Vehicle Owners (OSAGO) in Azerbaijan increased as of early June 2021, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the CBA, from January to May of this year the OSAGO market amounted to 37.6 million manat ($22.1 million), up by 6.65 percent compared to the same period of 2020 when this indicator made up over 35.2 million manat ($20.7 million).
At the same time, the number of collections for voluntary civil liability insurance of vehicle owners grew by 62.6 percent on annual basis, up to 575,000 manat ($338,240).
On the type of voluntary insurance of motor vehicles, 13.12 million manat ($7.72 million) of insurance fees had been collected, and more than 6 million manat ($3.5 million) had been paid during the reporting period.
Totally, through the first five months of 2021, Azerbaijani insurance companies collected 398 million manat ($234.1 million) of insurance premiums and paid over 208 million manat ($122.3 million).
(1 USD = 1.7 AZN on July 15)
---
Follow the author on Twitter: @jafarov_zeyni
