Azerbaijan's Credit Insurance Premiums Surge
Date
1/31/2025 3:13:43 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 31. Azerbaijan's
credit insurance sector saw a substantial increase in premiums for
2024, with collections reaching 5.2 million manat ($3 million).
The data obtained by Trend from the Central bank of Azerbaijan indicates
that this represents a significant rise of 3.4 million manat ($1.9
million)-or 2.8 times the amount collected in 2023.
The country's broader insurance market also demonstrated growth,
with total premiums for 2024 hitting 1.3 billion manat ($764.4
million), an increase of 10.7 percent from the previous year.
Meanwhile, payments made by insurers during the same period
amounted to 752.7 million manat ($442.6 million), up 28.1 percent
from 2023.
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