Azerbaijan’s non-life insurance market up 2%

In 2022, Azerbaijan-based insurers collected 471.839 million manats ($277.55 million) in premiums on non-life insurance, up 2.4% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

The payments on this type of insurance decreased by 15.5% to 185.089 million manats ($108.88 million) in the reporting period.

For the reporting period, 39.2 manats ($23) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 47.5 manats ($28) last year.