Azerbaijan’s life insurance market grows 30%

In 2022, 498.984 million manats ($293.5 million) were collected in insurance premiums in Azerbaijan as part of life insurance, 30.25% more than a year earlier, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments by types of life insurance increased by 3.5% to 248.114 million manats ($146 million).

Thus, 49.7 manats ($29.24) of insurance payments accounted for every 100 manats ($58.82) of insurance premiums, while this figure was 62.6 manats ($36.82).