Azerbaijan's insurance companies have collected 6 million 669 thousand manat insurance premiums for motor vehicle insurance (CASCO) in January-February 2023.

"APA-Economics" reports with reference to the Central Bank of Azerbaijan that the volume of this indicator is 7.7% or 474.7 thousand manats more than in January-February 2022.

In January-February last year, 6 million 194.3 thousand manat insurance premiums were collected for CASCO insurance.

In this period, the volume of motor vehicle insurance payments was 2 million 732.3 thousand manats, which is 4.4% or 115.2 thousand manats more than the same period last year.

In January-February 2022, the amount of payments for this type of insurance was equal to 2 million 617.1 thousand manats.

The greater increase in collections compared to insurance payments reduced the losses on compulsory real estate insurance by 3.3% in the last year.

Thus, in the first two months of last year, insurance companies spent 42.3 manats of every 100 manats they collected for this type of insurance, while in the first two months of the current year, this figure was 40.9 manats.