Azerbaijan's insurance market grows by 8%

A total of 239,719,000 manats ($140.98 million) of insurance premiums were collected in Azerbaijan in January-February 2024, up 8.4% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies increased by 38.2% to 97,434,000 manats ($57.3 million).

Thus, in the first two months of 2024, 40.6 manats ($23.9) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 31.9 manats ($18.76) in the same period of 2023.