BAKU, Azerbaijan, April 1. Azerbaijan gathered 100.7 million manat ($59.1 million) of life insurance premiums from January through February this year, which is 22.6 percent more than in the same period last year, Trend reports.
According to the Central Bank of Azerbaijan (CBA) statistical report, payments on life insurance types in the reporting period increased by 60 percent and amounted to 60.6 million manat ($35.6 million).
Thus, in the first two months of 2024, for every 100 manat ($58.7) of insurance premiums gathered in the life insurance market, 60.2 manat was returned to customers. This indicator amounted to 46.1 manat ($27.) from January through February 2023.
Meanwhile, 17 insurance companies in Azerbaijan gathered a total of 239.7 million manat ($140.8 million) of insurance premiums from January through February of the current year, which is 8.4 percent more compared to the same period last year.
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