Voluntary insurance market in Azerbaijan grows by nearly 25%

In January-October of this year, insurance premiums (+24.7%) of 601.853 million manats ($354,031 million) were collected at the expense of types of voluntary insurance in Azerbaijan, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of voluntary insurance payments amounted to 279.219 million ($164,246 million) manats (-6.9%).

In January-October 2022, 46.4 manats ($27.29) of every 100 manats ($58.82) collected from the voluntary insurance market were paid. This figure was 62.1 manats ($36.53) in the same period of 2021.