Life insurance market grows by 53% in Azerbaijan

In January-March this year, 105.191 million manats of insurance premiums were collected in Azerbaijan within the framework of various types of life insurance, 52.9% more than in the same period last year, Report informs citing the Central Bank of Azerbaijan.

During the reporting period, payments on various types of life insurance decreased by 4.8 times to 17.673 million manats.

In the first quarter of 2022, 16.8 manats were reimbursed to customers for every 100 manats of fees in the life insurance market, while this figure was 122.5 manats in January-March 2021.