AZERBAIJAN: in Jan-April MTPL GWP increased by 9.5% y-o-y

16 June 2021 — Marina MAGNAVAL
From January to April GWP in MTPL grew by 9.5% y-o-y to AZN 28.7 million (~EUR 13.93 million*), Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA). According to the CBA, in 2020 for the same period MTPL GWP the country amounted to AZN 26.2 million.

At the same time, GWP for voluntary civil liability insurance of vehicle owners has doubled y-o-y up to AZN 530,000. In the voluntary insurance of motor vehicles, the amount of GWP, collected during the reporting period, reached AZN 10.2 million, and paid claims amounted to AZN 4.77 million.

By the beginning of May, total GWP of the Azerbaijani insurance market exceeded AZN 339 million, while total market paid claims were about AZN 180 million.

* at the following exchange rate:

1 EUR = 2.0602 AZN (30.04.2021)

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