BAKU, Azerbaijan, October 3. The volume of fees for credit insurance in Azerbaijan grew by 2.69 percent year-on-year from January through August 2023, Trend reports.
According to the Central Bank of Azerbaijan (CBA), which is the regulator of the local insurance market, this figure amounted to 2.14 million manat ($1.26 million) versus 795,700 manat ($468,060) in the first eight months of 2022.
Insurance payments during the reporting period equaled 896 manat or $527 (no insurance payments were made last year).
Generally, Azerbaijani insurance companies collected insurance premiums in the amount of more than 846.8 million manat ($498.1 million) from January through August 2023 and paid out 345.79 million ($203.4 million).
