Voluntary insurance market grows by about 20% in Azerbaijan

In January-February this year, the premiums from the voluntary insurance types stood at 171.427 million manats ($100.84 million), up 19.8% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the payments on these types of insurance amounted to 52.591 million manats ($30.94 million), up 2.1 times from a year earlier.

Thus, in the reporting period, 30.7 manats ($18) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance typres. This figure was 17.1 manats ($10) in the same period last year.