Voluntary insurance market grows by 24% in Azerbaijan

In January-November this year, the premiums on the voluntary insurance types stood at 812.599 million manats ($478 million), up 23.6% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the payments on these types of insurance amounted to 398.352 million manats ($234.32 million), up 27% from a year earlier.

Thus, in the reporting period, 49 manats ($28.82) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance types. This figure was 47.7 manats ($28.06) in the same period last year.