Azerbaijan sees about 4% growth in compulsory insurance market

In January-March 2024, 94.829 million manats ($55.78 million) in premiums were collected on the compulsory insurance types in Azerbaijan, 3.6% more than the same period in 2023, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments on the compulsory insurance types amounted to 29.191 million manats ($17.17 million), which is 21.3% higher than a year ago.

Thus, 30.8 manats ($18.12) of insurance payments accounted for every 100 manats ($58.82) of insurance premiums in the first month, while this figure was 26.3 manats ($15.47) in the same period of 2023.