Compulsory auto insurance market grew by 20% in Azerbaijan

There has been growth in the number of insurance contracts

Baku. 1 June. REPORT.AZ/ 93,647 agreements on the compulsory insurance of the civil liability of vehicle owners signed in May in Azerbaijan.

Report informs referring to Bureau of compulsory insurance (BOS), of which 14,790 vehicles registered in foreign countries and imported to Azerbaijan for transit purposes.During this period, the amount of insurance premiums under mandatory insurance contracts amounted to more than 6.9 million manats.

Number of insurance contracts as compared to the same period last year increased by 1%, the amount of premiums - by 6%.

In January-May of this year signed 397 thousand contracts of compulsory insurance of civil liability of automobile owners, and the amount of insurance premiums under these contracts amounted to 30.1 million manats.Compared with the same period last year, the number of insurance contracts in this area increased by 14.5%, and the amount of contributions - by 19.7%. 

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