BAKU, Azerbaijan, February 26. Insurance collections in Azerbaijan increased by 5.5 percent or 7.3 million manat ($4.2 million) in January 2024 and amounted to 139.1 million manat ($81.8 million), Trend reports, referring to the Azerbaijani Central Bank.
The volume of collections in the insurance market amounted to 131.8 million manat ($77.5 million) in January last year.
During this period, the total volume of insurance payments increased by 10.3 percent or 3.6 million manat ($2.1 million) and amounted to 38.9 million manat ($22.8 million). This figure amounted to 35.2 million manat ($20.7 million) in January 2023.
The loss of the insurance market increased relatively last year. Thus, if in January 2023 insurers directed 26.7 manat ($15.7) out of every 100 manat ($58.8) collected for payment, this figure rose to 27.9 manat ($16.4) in the first month of this year.
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