Non-life insurance market in Azerbaijan grows by over 28%

In January-June 2023, Azerbaijan-based insurers collected 315.678 million manats ($185.3 million) in premiums on non-life insurance, up 28.5% 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 7% to 96.483 million manats ($56.6 million) in the reporting period.

For the reporting period, 30.6 manats ($17.96) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 36.7 manats ($21.54) in the same period of 2022.