Insurance payments on loans in Azerbaijan up by 90 times
In January-July 2024, AZN 2,657,700 of loan insurance premiums were collected in Azerbaijan. This is stated in the insurance review published by the Central Bank of Azerbaijan.
According to the document, this is up by 2.1 times from the same period of 2023.
Over 7 months, payment on this type of insurance rose by 89.2 times as compared to a year earlier and provided AZN 42.500.
In the reporting period, the loss ratio on credit insurance (collection ratio) grew from 0% (nil) to 1.6%.
Finance
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