AZERBAIJAN: in February GWP dropped amid rising paid claims

8 April 2020 — Marina MAGNAVAL
In January and February this year, Azerbaijani insurers generated GWP in the amount of AZN 190.74 million (~EUR 101.78 million), which is almost 44% more y-o-y, according to the Central Bank of the country.

At the same time, in January, the GWP reached about AZN 112 million, while in February insurance companies generated almost AZN 79 million GWP, which means a 29.7% decrease in February as compared to the first month of the year, ABC.AZ reports.

Paid claims during the period reached AZN 49.29 million, which is 48.8% more than in January-February 2018.

Market experts expect that the situation related to the pandemic will negatively affect the market results for March.

* EUR 1 = AZN 1.8740 (as of April 1st, 2020)

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