Voluntary insurance market grows by more than 24% in Azerbaijan

In January-October this year, the premiums from the voluntary insurance types stood at 748.891 million manats ($440.5 million), up 24.4% 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 364.540 million manats ($214.44 million), up 30.6% from a year earlier.

Thus, in the reporting period, 48.7 manats ($28.65) were paid for every 100 manats ($58.82) of insurance premiums collected on the voluntary insurance types. This figure was 46.4 manats ($27.29) in the same period last year.