Azerbaijan's insurance market grows by more than 7%

From January through May 2022, Azerbaijan-based 20 insurance companies collected 426.638 million manats ($$251 million) of insurance premiums, 7.2% more than in the first five months of 2021, Report informs, citing the Central Bank of Azerbaijan.

The amount of payments made by insurance companies during the reporting period amounted to 129.033 million manats ($75.9 million), 38% less than a year ago.

According to the bank, 30.2 manats ($17.7) were paid for every 100 manats ($58.82) collected in the insurance market in January-May 2022, while this figure was 52.3 manats ($30.7) last year.