Azerbaijan's insurance market grows 24%

In January-February 2023, 221.068 million manats ($130.1 million) in insurance premiums were collected through 20 insurance companies in Azerbaijan, 24% more year-on-year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the payments made by insurance companies amounted to 70.514 million manats ($41.5 million), 81.1% more than a year ago.

In January-February 2023, 26.3 manats ($18.8) were paid for every 100 manats ($58.82) collected in the insurance market. In the same period last year, this figure was 21.8 manats ($12.83).