Azerbaijan's insurance market grows by 28%

A total of 1,745 million manats ($1,026 million) of insurance premiums were collected in Azerbaijan in January–September 2023, up 27.8% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies increased by 26.6% to 455.012 million manats ($267.65 million).

Thus, for the first ten months of 2023, 44.6 manats ($26.23) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 45 manats ($26.47) in the same period of 2022.