AZERBAIJAN: in 1H2023 Green Card premiums increased by almost 6 times y-o-y

16 August 2023 — Marina MAGNAVAL
In the first half of 2023, 29,516 insurance contracts were issued within the Green Card system in Azerbaijan, which is 2.4 times more y-o-y, ABC.AZ reports with reference to the Compulsory Insurance Bureau.

During the reporting period, GWP collected within this system increased 5.8 times compared to the same period last year and reached AZN 7.33 million (~EUR 3.94 million).

It is also noted that in the first six months of this year, for vehicles registered in Kazakhstan and Georgia, about 9,000 insurance contracts were issued and about AZN 5 million were collected in Azerbaijan. For the first time within the Green Card system, Azerbaijani insurers exported about AZN 5 million of insurance services.

*EUR 1 = AZN 1.86 (01.07.2023)