Non-life insurance market in Azerbaijan grows by 8%

In January 2023, Azerbaijan-based insurers collected 95.255 million manats ($56.03 million) in premiums on non-life insurance, up 8.1% 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 31.6% to 15.317 million manats ($9 million) in the reporting period.

For the reporting period, 16.1 manats ($9.47) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 13.2 manats ($7.76).