In January-March 2022, Azerbaijan-based insurers collected 153.234 million manats in premium on the non-life insurance, down 15% from the previous year, Report informs, citing the Central Bank of Azerbaijan.
The payments on this type of insurance decreased by 28.7% to 43.555 million manats in the reporting period.
For the reporting period, 28.4 manats were paid for every 100 manats of insurance premiums, while this figure was 33.9 manats last year.
In the first quarter of 2022, Azerbaijan-based 20 insurance companies collected 258.425 million manats in premiums, up 3.8% from a year earlier. Payments dropped 2.4-fold to 61.228 million manats. Payment for every 100 manats was 23.7 manats, while 58.4 manats last year.