Azerbaijan sees 3% decline in non-life insurance market

In January-July 2022, Azerbaijan-based insurers collected 286.344 million manats ($168.44 million) in premiums on non-life insurance, down 3.1% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

The payments on this type of insurance decreased by 12.5% to 106.679 million manats ($62.75 million) in the reporting period.

For the reporting period, 37.3 manats ($22) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 41.3 manats ($24.3) last year.