Non-life insurance market in Azerbaijan grows by more than 20%

In January-February 2023, Azerbaijan-based insurers collected 138.91 million manats ($81.71 million) in premiums on non-life insurance, up 20.5% 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 14.5% to 32.614 million manats ($19.18 million) in the reporting period.

For the reporting period, 23.5 manats ($13.8) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 24.7 manats ($14.5) in the same period of 2022.