Non-life insurance market in Azerbaijan grows by 30%

In January-July 2023, Azerbaijan-based insurers collected 373.42 million manats ($219.66 million) in premiums on non-life insurance, up 30.4% 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 8% to 115.241 million manats ($67.79 million) in the reporting period.

For the reporting period, 30.9 manats ($17.9) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 37.3 manats ($21.6) in the same period of 2022.