Azerbaijan's insurance market grows 10%

From January through July of this year, 20 Azerbaijan-based insurance companies collected 580.501 million manats ($341.47 million) of insurance premiums, 9.9% more than in the first half of 2021, Report informs, citing the Central Bank of Azerbaijan.

The amount of payments made by insurance companies during the reporting period amounted to 241.128 million manats ($141.84 million), 19.9% less than a year ago.

According to the bank, 41.5 manats ($24.41) were paid for every 100 manats ($58.91) collected in the insurance market from January through July 2022, while this figure was 57 manats ($33.53) last year.