Payments on property insurance triple in Azerbaijan

In January–October this year, the premiums on property insurance amounted to 176.566 million manats ($103.86 million) in Azerbaijan, up 19.7% 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 48.683 million manats ($28.64 million).

In the first ten months of 2023, 27.6 manats ($16.24) were paid for every 100 manats ($58.82) of insurance premiums collected in the market, while this figure was 11.8 manats ($6.94) in the same period of the previous year.