Non-life insurance market in Azerbaijan grows by 29%

In January-May 2023, Azerbaijan-based insurers collected 275.286 million manats ($162 million) in premiums on non-life insurance, up 28.9% 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 3.7% to 79.638 million manats ($46.9 million) in the reporting period.

For the reporting period, 28.9 manats ($17) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 35.9 manats ($21.12) in the same period of 2022.