Azerbaijan's life insurance market grows by 37%

Kanan Sadigov
Author

In January-May 2023, 291.148 million manats ($171.3 million) of premiums were collected in Azerbaijan thanks to various types of life insurance, up 36.7% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments on this type of insurance increased 81.4% and reached 94.798 million manats ($55.8 million).

Thus, for the 5 months of 2023, 32.6 manats ($19.18) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the life insurance segment. This figure was 24.5 manats ($14.41) in the same period of 2022.

Other News

Double taxation between Azerbaijan, Kyrgyzstan eliminated 23 January, 2026 / 17:18
Azerbaijani banks exempted from taxes on international transactions through Visa – EXCLUSIVE 23 January, 2026 / 17:11
Platinum price hits historic record 23 January, 2026 / 16:07
Global cocoa bean prices fall by 6.6% 23 January, 2026 / 15:28
S&P: Azerbaijan's banking sector recovery mechanism to be enhanced in 2026 23 January, 2026 / 15:04
Azerbaijan's Finance Ministry preparing to apply AI 23 January, 2026 / 14:19
CBA currency exchange rates (23.01.2026) 23 January, 2026 / 09:55
Key indicators of world commodity, stock, and currency markets (23.01.2026) 23 January, 2026 / 09:31
Central Bank of Türkiye lowers policy rate to 37% 22 January, 2026 / 16:45
Copper prices rise after Trump's decision to waive tariffs on European goods 22 January, 2026 / 11:33
Gold prices fall amid optimism over global trade 22 January, 2026 / 11:04
Moody's: Regulatory reforms strengthened resilience of Azerbaijan's banking sector 22 January, 2026 / 10:21
CBA currency exchange rates (22.01.2026) 22 January, 2026 / 09:42
Key indicators of world commodity, stock, and currency markets (22.01.2026) 22 January, 2026 / 09:17
Moody's: Azerbaijan's fiscal position remains robust 22 January, 2026 / 09:09
Moody's: Easing of tensions between Armenia, Azerbaijan started to yield tangible effects 22 January, 2026 / 09:02
Moody's: Azerbaijan's public debt won't exceed 24% of GDP in 2026-2027 22 January, 2026 / 08:54
Moody's: Azerbaijan's current account surplus expected at 5% of GDP in 2026 22 January, 2026 / 08:51
Moody's forecasts slowdown in inflation in Azerbaijan 21 January, 2026 / 20:15
Moody's: Azerbaijan's GDP growth in 2026 will be 3% 21 January, 2026 / 19:43