BAKU, Azerbaijan, March 28. The growth rate of insurance premiums in the agricultural sector of Azerbaijan amounted to 21 percent in 2022, from 11.3 million manat ($6.6 million) to 13.7 million manat ($8.05 million), press service Azerbaijan's Agriculture Ministry told Trend.
It was noted that the value of insured facilities totaled 502.8 million manat ($295.7 million).
"The number of insured livestock in 2022 amounted to 13,102, while field areas, to 261,223 hectares. In addition, last year, payments on insured events amounted to 2.4 million manat ($1.4 million)," the ministry said.
In 2022, the total insurance premiums of Azerbaijan's 10 leading insurance companies equaled 881.8 million manat ($518.7 million) or 90.83 percent of all premiums, while the overall premiums of all insurance companies of Azerbaijan accounted for 970.8 million manat ($571.06 million).