AZERBAIJAN: net profit of insurers in 2021 decreased by more than 27% y-o-y

19 May 2022 — Marina MAGNAVAL
In 2021, net profit of the insurance sector of Azerbaijan amounted to AZN 66.04 million (~EUR 34.27 million), which is 27.8% less than in 2020. In the reporting period, the insurance sector's income decreased by 6.7% to AZN 923.64 million, ABC.AZ reports citing Interfax.

Expenses of the insurance sector for the reporting period decreased by 4.5% to AZN 842.29 million. Income tax of insurers in 2021 amounted to AZN 15.29 million, which is 5.3% less y-o-y.

* 1 EUR = 1.9265 AZN (31.12.2021)



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