BAKU, Azerbaijan, February 2. Azerbaijan's credit insurance premiums amounted to 1.899 million manat ($1.1 million) in 2022, Trend reports via the Azerbaijani Central Bank's report.
This figure decreased by 43.76 percent year over year (3.378 million manat, $1.98 million in 2021).
In total, Azerbaijani insurance companies collected insurance premiums worth over 970.8 million manat ($571.07 million) for 2022 and paid out 433.2 million manat ($254.8 million).
Credit insurance constitutes an insurance payment for the full or partial compensation for damage caused to the lender following bankruptcy or death of the creditor, as well as non-repayment of debt (credit) due to the impossibility of fulfilling its obligations for other reasons.
