BAKU, Azerbaijan, March 18. According to the results of 2022, total assets in the insurance sector of Azerbaijan amounted to 1.5 billion manat ($937.6 million), which is 20 percent more than in the same period of 2021, Trend reports with reference to the financial report of Central Bank of Azerbaijan (CBA).
In total, 78 percent of the assets of the insurance market are formed at the expense of the investment portfolio, as well as government securities – 40 percent or 632 million manat ($371.7 million), funds in banks –27 percent or 437 million manat ($257.05 million), investments in non–government securities five percent or 87 million manat ($51.1 million), and other investment assets.
As of December 31, 2022, the volume of insurers' funds in banks amounted to 392 million manat ($230.5 million), increasing by 6 percent, compared to the same period in 2021.
Furthermore, CBA notes that at the end of 2022, the balance capital of the insurance market totaled 499 million manat ($293.5 million), while the total capital – 333 million manats ($195.8 million)