Azerbaijan's insurance market shrinks 16%

From January through February 2021, 20 insurance companies of Azerbaijan collected over 160.4 million manats ($94.4 million) in premiums.

Report informs, citing the Central Bank of Azerbaijan, that this is 15.9% less than the same period last year.

The volume of payments made by insurance companies during the reporting period amounted to 100.17 million manats ($58.9 million), which is twice as high as a year earlier.

Over the past 2 months, 62.4 manats ($36.7) of insurance premiums fell on every 100 manats ($58.8) collected in the insurance market. This figure was 25.8 manats ($15.1) in the same period last year.