Azerbaijan’s insurance market grows by 14%

Twenty insurance companies in Azerbaijan collected insurance premiums to the tune of 118.234 million manats on January 2022, up 13.7% from the same period last year, Report informs citing the Central Bank of Azerbaijan.

The amount of payments made by insurance companies for the reporting period amounted to 16.623 million manats, down 70.8% or 3.4 times from a year earlier.

During the reporting period, 14.1 manats were paid for every 100 manats collected on the insurance market. For the same period last year, this figure amounted to 54.65 manats.