In January-March 2022, the premiums on compulsory insurance types amounted to 64.436 million manats, down 31% from the previous year, Report informs, citing the Central Bank of Azerbaijan.
In the reporting period, the payments on the compulsory insurance types stood at 22.329 million, showing a 45.6% increase compared to a year earlier.
Over the past three months, 34.7 manats of insurance payments accounted for every 100 manats of insurance premiums, while this figure was 43.9 manats in January-March 2021.
Azerbaijan-based 20 insurers collected 258.425 million manats premiums in January-March this year.
The payments by insurance companies for the reporting period amounted to 61.228 million manats.
For the reporting period, 23.7 manats were paid for every 100 manats of insurance premiums, while this figure was 58.4 manats last year.