Non-life insurance market in Azerbaijan grew by 8% in January

In January 2025, 101.77 million manats ($59.86 million) of insurance premiums were generated in Azerbaijan through non-life insurance types, 8.1% more than in the same period last year, Report informs, citing the Central Bank of Azerbaijan.

Payments on non-life insurance types increased by 6.7% and reached 18.16 million manats ($10.68 million).

Thus, out of every 100 manats ($58) of insurance premiums collected in the non-life insurance market during the month, 17.8 manats ($10.47) were returned to customers. This figure was 18.1 manats ($10.64) a year ago.

In January, 16 insurance companies in Azerbaijan collected 163.66 million manats ($96.27 million) of insurance premiums. This is 17.6% more than in the same period last year.

The amount of payments made by insurance companies during the reporting period amounted to 47.62 million manats ($28 million), 22.8% more than in the previous year.

In January, 29.1 manats ($17.11) of every 100 manats of insurance premiums collected in the insurance market were paid. The previous year, this figure was 27.9 manats ($16.41).