Non-life insurance market in Azerbaijan grows by 27%

In January-April 2023, Azerbaijan-based insurers collected 231.724 million manats ($136.31 million) in premiums on non-life insurance, up 27.2% from the same period of the previous year, Report informs, citing the Central Bank of Azerbaijan.

The payments on this type of insurance increased by 0.8% to 62.412 million manats ($36.71 million) in the reporting period.

For the reporting period, 26.9 manats ($15.82) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 34 manats ($20) in the same period of 2022.