Azerbaijan's insurance market volume up by 28%

The insurance premiums worth 937.238 million manats ($551.316 million) were collected through 20 Azerbaijani insurance companies from January through September 2023 which is 28.2 per cent more than in the same period of 2022.

The insurance companies paid 400.387 million manats ($235.521 million) during the reporting period which is 25.7 per cent more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

The payments per 100 manats ($58) of insurance premiums reached 42.7 manats ($25.1) compared to 43.6 manats ($25.6) for the same period of 2022.