Compulsory auto insurance market declines in Azerbaijan

Baku. 2 November. REPORT.AZ/ 80 880 agreements on the compulsory insurance of the civil liability of vehicle owners signed in October in Azerbaijan.

Report informs referring to Bureau of Compulsory Insurance (BCI), of which 12 808 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 6.6 million manats.

Number of compulsory insurance contracts decreased by 12% compared to the same period last year, the amount of premiums - by 11% compared to October last year.

In January-October 826 744 contracts of compulsory insurance of civil liability of automobile owners were signed,

of these, 145,726 have made the contract of vehicles registered abroad and imported to Azerbaijan for transit purposes. During this period, the total amount of insurance premiums under mandatory insurance made 65 mln. AZN. The number of contracts of compulsory insurance increased by 6%, and the amount of premiums - by 10% compared with January-October last year.