Most of all contracts concluded for Q1 on mandatory insurance

In the 1st quarter of 2021 the insurers in Azerbaijan concluded 612,923 insurance contracts (25.5% less versus Q1 of 2020).

banks.az reports that most of the insurance contracts are concluded for mandatory types of insurance, and they account for 59.4% of the total portfolio, or 1,364,227 contracts.

Compared with Q1 of 2020, the decrease made up 28.1%.

At that, the largest number of contracts for compulsory types of insurance (294,634 ones) were concluded for compulsory insurance of civil liability of motor vehicle owners.