Payments on property insurance nearly triple in Azerbaijan

In January–November this year, the premiums on property insurance amounted to 191.158 million manats ($112.45 million) in Azerbaijan, up 21.1% from the same period last year, Report informs referring to the Central Bank of Azerbaijan.

During the reporting period, the payments on this type of insurance increased by 2.8 times to 52.571 million manats ($30.92 million).

In the first eleven months of 2023, 27.5 manats ($16.18) were paid for every 100 manats ($58.82) of insurance premiums collected in the market, while this figure was 12 manats ($7.06) in the same period of the previous year.