Azerbaijan records hike in insurance market

Economy Materials 21 May 2024 15:17 (UTC +04:00)
Ingilab Mammadov
Ingilab Mammadov
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BAKU, Azerbaijan, May 21. From January through April this year, 17 Azerbaijani insurance companies collected a total of 542.841 million manat, or $319.3 million in insurance premiums, Trend reports via the Central Bank of Azerbaijan (CBA).

The figures from CBA show that this is a 16.1 percent increase compared to the same period last year.

The amount of payments made by insurance companies during the reporting period amounted to 209.55 million manat, or $123.26 million. This is 55.7 percent more than a year ago.

Over the past 4 months, 38.6 manat, or $22.7, of payments were made for every 100 manat, or $58.8 of insurance premiums. In the same period last year, this indicator amounted to 26 manat, or $15.3.

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