Azerbaijan's insurance market grows by 16%

A total of 542,841,000 manats (about $319.3 million) of insurance premiums were collected in Azerbaijan in January-April 2024, marking an increase of 16.1% from the corresponding of the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies rose by 55.7 to 209,555,000 manats (about $123.2 million).

Meanwhile, in the first four months of 2024, 38.6 manats ($22.71) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 26 manats ($15.29) in the same period of 2023.