Over AZN5M in agricultural insurance premiums collected in Azerbaijan this year

During the first five months of this year, more than 5 million manats in agricultural insurance premiums were collected across the country, Fuad Sadigov, the Chairman of the Board of the Agrarian Insurance Fund told Report.

Sadigov said that this is 50-60% more compared to the same period of the last year.

"So, in the first 5 months of last year, 3 million manats of agricultural insurance premiums were collected across the country. In 2020, the amount of agricultural insurance premiums collected in the country was only 6,700 manats. The fact that this amount exceeded 5 million manats in the first 5 months of 2022 shows how much the market has grown. By the end of the year we are supposed to collect more insurance premiums than we expected. The main reason for this is that our farmers are interested in using agricultural insurance services. They see that when there is any damage, they turn to the state and receive a positive response."