In the first four months of 2023, 125.676 million manats ($73.93 million) premiums (+38.1%) were collected on the compulsory insurance types in Azerbaijan, Report informs, citing the Central Bank of Azerbaijan.
During the reporting period, payments on the compulsory insurance types amounted to 32.1 million manats ($18.88 million), which is 3.3% more than a year ago.
Thus, 25.5 manats ($15) of insurance payments accounted for every 100 manats ($58.82) of insurance premiums in the first quarter, while this figure was 34.1 manats ($20.6) in the same period of 2022.
Azerbaijan-based 20 insurers collected 467.53 million manats ($275.02 million) in premiums in January-April 2023, 30.3% more than a year earlier.
The payments by insurance companies for the reporting period stood at 134.602 million manats ($79.18 million), 44.1% more than in 2022.