Voluntary insurance market grows by 24% in Azerbaijan

In January-September this year, the premiums from the voluntary insurance types stood at 687.374 million manats ($404.34 million), up 24.2% 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 320.152 million manats ($188.32 million), up 29.7% from a year earlier.

Thus, in the reporting period, 46.6 manats ($27.41) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance types. This figure was 44.6 manats ($26.24) in the same period last year.