Azerbaijan’s voluntary insurance market grows by 9%

In January-August 2021, premiums on voluntary insurance types amounted to AZN 398.83 million, up 9% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

In the reporting period, the payments on the voluntary insurance types stood at AZN 257.744 million, showing a 17.6% increase compared to a year earlier.

Over the past eight months, AZN 64.7 of insurance payments accounted for every AZN 100 of insurance premiums, while this figure was AZN 59.9 in January-August 2020.