Azerbaijan sees over 6% growth in non-life insurance market 

In January 2022, Azerbaijan-based insurers collected 88.536 million manats in premium on the non-life insurance, up 6.2% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

The payments on this type of insurance decreased by 2.4-fold to 11.62 million manats in the reporting period.

For the reporting period, 13.1 manats were paid for every 100 manats of insurance premiums, while this figure was 33.7 manats last year.

In January 2022, Azerbaijan-based 20 insurance companies collected 118.234 million manats in premiums, up 13.7% from a year earlier. Payments dropped 70.8% or 3.4-fold to 16.623 million manats. Payment for every 100 manats was 14.1 manats, while 54.65 manats last year.