BAKU, Azerbaijan, July 23. Insurance market to grow by 10 percent annually in Azerbaijan in 2022-2026, Trend reports via the "Socio-economic development strategy of the Republic of Azerbaijan for 2022-2026" .
"Expansion of the insurance market will occur through systemic institutional reforms, modernization of market infrastructure, digital transformation and intensive awareness activities," the strategy said.
According to the Central Bank of Azerbaijan (CBA), Azerbaijani insurance companies totally paid out 129 million manat ($75.8 million) from January through May 2022.