Azerbaijan’s insurance market grows

Last year, 22 Azerbaijani insurance companies collected premiums worth 728,634,000 ($428,866,000), Report informs, referring to the Central Bank of Azerbaijan.

This is 7 percent more compared to the same period of 2019.

The payments made by insurance companies during the reporting period amounted to 465,153,000 manats ($273,759,000), a growth of 54.3 percent more than in 2019.

Last year, 63.8 manats ($37.55) of insurance premiums were paid for every 100 manats ($58.86) collected in the insurance market. In 2019, this figure was 44.3 manats ($26.07).