Azerbaijan’s compulsory insurance market grows by 14%

In 2021, the premiums on compulsory insurance types amounted to 257,302,600 manats, up 13.9% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

In the reporting period, the payments on the compulsory insurance types stood at 119,460,800, showing a 38.2% increase compared to a year earlier.

Over the past seven months, 46.4 manats of insurance payments accounted for every 100 manats of insurance premiums, while this figure was 38.3 manats in 2020.