Azeri insurers have collected AZN 11 million for MTPL contracts in the first half of 2017

At the end of June 2017, 133,148 contracts on compulsory MTPL were registered in the Azeri Compulsory Insurance Bureau's information system, more by 58% than in 1H2016.

14,797 of the contracts were related with the motor vehicles registered abroad and being in the territory of Azerbaijan on transit. The amount of insurance premiums collected by insurance companies on standard and border insurance agreements made AZN 10.92 million for the reporting period. Compared to the relevant term of 2016, the volume of collected premiums grew by 63%.

Since 1st November 2016 the process of conclusion of compulsory motor insurance contracts has become electronic. The paper agreements entered into prior to that date will be in force till their closing date.

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