Azerbaijan's insurance market grows by 12%

A total of 725.16 million manats (about $426.57 million) of insurance premiums were collected through 17 insurance companies in Azerbaijan in January-June 2024, marking an increase of 11.7% year-on-year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies rose by 58.5% to 356.63 manats (about $209.78 million).

Meanwhile, in the first six months of 2024, 49.2 manats ($28.94) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 34.7 manats ($20.41) in the same period of 2023.