Azerbaijan's insurance market grows by 32%

A total of 648.945 million manats ($381.7 million) of insurance premiums were collected in Azerbaijan in January-June, up 32% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies increased by 28.6% to 225.032 million manats ($132.4 million).

Thus, for the first six months of 2023, 34.7 manats ($20.41) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 35.6 manats ($20.94) in the same period of 2022.