Compulsory insurance market in Azerbaijan shrinks by over 12%

In January-October of this year, insurance premiums (-12.2%) of 195.772 million manats ($115,159 million) were collected at the expense of types of compulsory insurance types in Azerbaijan, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of payments for types of compulsory insurance amounted to 80.078 million manats (47,104 million), which is 21% less than a year ago.

Thus, in January-October 2022, 40.9 manats ($24.06) of every 100 manats ($58.82) collected from the compulsory insurance market were paid. This figure was 45.4 manats ($26.71) in the same period of 2021.