Non-life insurance market in Azerbaijan surges by 26%

In January–November 2023, Azerbaijan-based insurers collected 535.414 million manats ($314.95 million) in premiums on non-life insurance, up 26.2% 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% to 222.384 million manats ($130.81 million) in the reporting period.

For the reporting period, 41.5 manats ($24.41) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 40 manats ($23.53) in the same period of 2022.