Non-life insurance market in Azerbaijan surges by 26%

In January–September 2023, Azerbaijan-based insurers collected 455.741 million manats ($268.08 million) in premiums on non-life insurance, up 25.9% 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 26.7% to 177.340 million manats ($104.32 million) in the reporting period.

For the reporting period, 38.9 manats ($22.88) were paid for every 100 manats ($58.8) of insurance premiums, while this figure was 38.7 manats ($22.76) in the same period of 2022.