Property insurance payments in Azerbaijan rise by almost half

In January-February of 2024, Azerbaijan collected 39,726 million manat (about $23.368 million) in property insurance premiums, marking a 11.2-percent increase from the same period last year, Report informs via the Central Bank of Azerbaijan (CBA).

During the reporting period, the amount of property insurance payments amounted to 5,424 million manats ($3.190 million), representing a 47.3-percent growth from a year ago.

Within 2 months, 13.7 manats ($8.06) in each 100 manats ($58.82) collected for property insurance were paid back to customers. This figure stood at 10.3 manats ($6.06) a year ago.