AZERBAIJAN: for 11 months of 2021, GWP of insurers increased by almost 15% y-o-y

27 December 2021 — Marina MAGNAVAL
For 11 months of this year, 20 insurance companies of Azerbaijan collected AZN 767.91 million (EUR 398.66 million*) in premiums, which is 14.9% more y-o-y, ABC.AZ informed with reference to the Central Bank of Azerbaijan.

At the same time, total paid claims of insurance companies for the reporting period reached AZN 429.84 million, which is 9.8% more than a year earlier.

In January-November 2021, AZN 528.89 million in premiums were collected through voluntary insurance, which is 14.39% more than in the first 11 months of last year. At the same time, GWP from compulsory insurance reached AZN 239.01 million, which is 15.72% higher y-o-y.

Paid claims in voluntary insurance for the period amounted to AZN 319.73 million (+2.54%), while in compulsory insurance reached AZN 110.11 million (+73.72%).

*1 EUR = 1.9262 AZN (01.12.2021)

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