Azerbaijan's voluntary insurance market up over 16%

In January this year, 115.624 million manats ($68.01 million) insurance premiums (+16.5%) were collected at the expense of 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 26.87 million ($15.9 million) manats (+2.8 times).

Thus, in January 2023, 23.2 manats ($13.65) of every 100 manats ($58.82) collected from the voluntary insurance market were paid. This figure was 9.5 manats ($5.59) in the same period of 2022.