Azerbaijan's insurance market grows by 4%

A total of 139,114,000 manats ($81.83 million) of insurance premiums were collected in Azerbaijan in January 2024, up 3.9% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies increased by 10.3% to 38.783 million manats ($22.81 million).

Thus, in the first month of 2024, 27.9 manats ($16.41) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 26.3 manats ($15.47) in the same period of 2023.