During the months of January-February 2023, collections for compulsory car insurance (NVSMMİS) in Azerbaijan amounted to 23 million 457.9 thousand manats.
"APA-Economics" reports with reference to the Central Bank of Azerbaijan that this indicator is 64.2% or 9 million 175.4 thousand manats more than the corresponding period of 2022.
Thus, in January-February 2022, 14 million 282.5 thousand manat insurance premiums were collected.
In this period, the volume of payments for compulsory car insurance was 17 million 206.3 thousand manats, which is 30% or 3 million 975.9 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 13 million 230.4 thousand manats.
A higher increase in collections compared to insurance payments has reduced the losses on NVSMMİS by 20.8% in the last year.
Thus, in the first two months of last year, insurance companies spent 92.6 manats of every 100 manats they collected for this insurance, while in the first two months of the current year, this figure decreased to 73.3 manats.