Azerbaijan’s voluntary insurance market grows by 24%

In 2022, 728.071 million manats ($428.28 million) insurance premiums (+24. %) were collected on the voluntary insurance types in Azerbaijan, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of voluntary insurance payments amounted to 337.633 million manats ($198.61 million) (-0.5%).

Thus, in 2022, 46.4 manats ($27.29) of insurance payments accounted for every 100 ($58.82) of insurance premiums, while this figure was 57.8 ($34) in 2021.