Voluntary insurance market grows by 32% in Azerbaijan

In January-March this year, the premiums from the voluntary insurance types stood at 255.356 million manats ($150.21 million), up 31.6% 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 78.218 million manats ($46 million), up 2 times from a year earlier.

Thus, in the reporting period, 30.6 manats ($18) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance types. This figure was 20.1 manats ($11.8) in the same period last year.