Non-life insurance premiums in Azerbaijan grow 6.5% in 11 months

In January–November this year, premiums collected under non-life insurance segments in Azerbaijan amounted to 591.46 million manats ($347.92 million), Report informs, citing the Central Bank of Azerbaijan (CBA).

During the reporting period, payouts under non-life insurance products increased by 2.4% year-on-year to 249.14 million manats ($146.55 million).

As a result, over 11 months, insurance companies paid out 42.1 manats ($24.76) for every 100 manats ($59) collected in non-life insurance premiums. This ratio stood at 43.8 manats ($25.76) in the same period last year.