Azerbaijan's Credit Insurance Premiums Surge


(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.

MENAFN31012025000187011040ID1109154209


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.