BAKU, Azerbaijan, Aug. 7
By Zeyni Jafarov - Trend:
The volume of fees on voluntary insurance of goods decreased by 24.5 percent in Azerbaijan for the year, Trend reports with reference to the statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, which is the regulator of the local insurance market, the fees on this segment exceeded 2.6 million manat ($1.5 million) in the first half of the year compared to 3.5 million manat ($2.05 million) by the end of June 2020.
Insurance payments on voluntary cargo insurance, having increased by 79.6 percent on an annualized basis, equaled 74,000 manat ($43,529).
The share of this type in the total fees and payments on voluntary property insurance is 3.6 percent and 0.6 percent, respectively.
The Azerbaijani insurance companies collected insurance premiums worth over 452 million manat ($265 million) and paid - 248 million manat ($145 million) during the first six months of this year.
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