Voluntary insurance market grows by 29% in Azerbaijan

In January-May this year, the premiums from the voluntary insurance types stood at 410.666 million manats ($241.6 million), up 29.1% 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 133.340 million manats ($78.3 million), up 47.2% from a year earlier.

Thus, in the reporting period, 32.5 manats ($19.12) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance types. This figure was 28.5 manats ($16.76) in the same period last year.