Voluntary insurance market in Azerbaijan grows by over 2%

In January 2024, insurance premiums of 118,307,000 manats ($69.59 million) (+2.3%) were collected on the voluntary insurance types in Azerbaijan, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the reporting period, payments for voluntary insurance types amounted to 30,547,000 manats ($17.97 million), which is 13.7% more than a year ago.

Thus, 25.8 manats ($15.18) of every 100 manats ($58.82) collected from the voluntary insurance market were paid in the first month. This figure was 23.2 manats ($13.65) in January 2023.