Property insurance payments in Azerbaijan up by 23%

In January–March 2024, 52.448 million manat (about $30.85 million) in insurance premiums were collected for property insurance in Azerbaijan, Report informs via the Central Bank of Azerbaijan (CBA).

According to the CBA, this shows a 1.6 percent increase compared to the first quarter of 2023.

Over the course of 3 months, the amount of property insurance payments amounted to 7,295 million manats (about $4.3 million), representing a 23.4 percent growth from a year ago.

During the reporting period, 13.9 manats ($8.18) of each 100 manats ($58.82) collected for property insurance were paid back to customers. This figure stood at 11.5 manats ($6.76) a year ago.