AZERBAIJAN: credit insurance and insurance against business interruption increased in 1H

16 August 2021 — Marina MAGNAVAL
GWP on credit insurance in Azerbaijan increased by more than seven times y-o-y as of beginning July 2021, Trend reports with reference to the reporting data of the Central Bank of Azerbaijan (CBA), which is the regulator of the insurance market.

According to the CBA, GWP on credit insurance in the first six months of the year amounted to about AZN 104,000 (~USD 61,176) vs AZN 14,600 (~USD 8,588) a year ago, beginning July 2020. However, CBA noted that paid claims in this segment were practically zero.

During the period, GWP on insurance against business interruption also increased y-o-y, amounting AZN

413,700 (~USD 243,352), which is 1.8% more than in the same period of 2020.

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