BAKU, Azerbaijan, September 1. The volume of fees for credit insurance in Azerbaijan increased almost by four times year-on-year as of August 1, 2022, Trend reports via 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 467,900 manat ($275,235) from January through July 2022 compared to 120,600 ($70,941) in the same period the previous year.
Generally, Azerbaijani insurance companies collected insurance premiums in the amount of more than 534 million manat ($314 million) from January through July 2022 and paid out 229 million ($134 million).
