Azerbaijan posts 40% rise in property insurance market

In January-February this year, the premiums on property insurance amounted to 35.720 million manats ($21 million) in Azerbaijan, up 24.3% from the same period last year, Report informs referring to the Central Bank of Azerbaijan.

During the reporting period, the payments on this type of insurance stood at 3.682 million manats ($2.17 million), a growth of 16.9% from a year earlier.

In the first two months of 2023, 10.3 manats ($6.06) were paid for every 100 manats ($58.82) of insurance premiums collected in the market, while this figure was 11 manats ($6.47) in the same period of the previous year.