Azerbaijan’s insurance market up by 30%

In January-April 2023, 467.53 million manats ($275 million) of insurance premiums were collected in Azerbaijan, up 30.3% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments from insurance companies increased by 44.1% to 134.602 million manats ($79.18 million).

Thus, for the first four months of 2023, 28.8 manats ($16.94) of insurance premiums were returned to customers for every 100 manats ($58.82) collected in the insurance market. This figure was 26 manats ($15.29) in the same period of 2022.