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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Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.
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The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
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In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.
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In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
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