Azerbaijan's insurance market shrinks 7%

AZN 104,011,000 ($61.21 million) of insurance premiums were collected through 20 insurance companies in Azerbaijan.

Report informs, citing the Central Bank of Azerbaijan, that it is 7.2% less than a year before.

The amount of payments made by insurance companies during the reporting period reached AZN 56,841,000 ($33.452 million), which is 2.1 times more than a year earlier.

According to the bank, AZN 54.6 ($32.13) were paid in every AZN 100 ($58.85) of insurance premiums. This figure was AZN 23.9 ($14.06) for the same period last year.