BAKU, Azerbaijan, July 17. The Central Bank of Azerbaijan (CBA) expects the volume of the insurance market to reach 1.2 billion manat-1.3 billion manat ($710 million-$760 million) this year, Director General of the CBA Ziya Aliyev said at the conference on "Methods of successful resolution of insurance disputes", Trend reports.
"In 2019, insurance premiums worth 650 million manat ($382.3 million) were collected in Azerbaijan," Aliyev reminded.
Thus, according to him, the insurance market will almost double.
In 2022, insurance companies in Azerbaijan collected insurance premiums in the amount of over 970.8 million manat ($571 million), and payments amounted to 433.2 million manat ($254.8 million).