Azerbaijan's insurance market grows by 15%

In 2022, 970.823 million manats ($571.07 million) in insurance premiums were collected through 20 insurance companies in Azerbaijan, 15% more year-on-year, Report informs, citing the Central Bank of Azerbaijan

During the reporting period, the payments made by insurance companies amounted to 433.202 million manats ($254.82 million), 5.6% less than a year ago.

In 2022, 44.6 manats ($26.24) were paid for every 100 manats ($58.82) collected in the insurance market. In the same period last year, this figure was 54.4 manats ($32).