BAKU, Azerbaijan, May 2. The volume of collections for credit insurance in Azerbaijan notably increased from January through March 2022, Trend reports citing the reporting data of the Central Bank of Azerbaijan (CBA).
According to the CBA, which is the regulator of the local insurance market, this figure amounted to 197,700 manat ($116,290), up by almost 4.34 times compared to the first quarter of last year (45,600 manat or $26,820).
At the same time, practically no payments for credit insurance were made in the first quarter of 2022.
Totally, in the reporting period, Azerbaijani insurance companies collected insurance premiums worth over 258 million manat ($151.7 million), and paid 61.22 million manat ($36 million).
