BAKU, Azerbaijan, May 28. The overall volume of voluntary insurance premiums in Azerbaijan from January to April 2024 was 410.4 million manat ($241.4 million), up 20.1 percent from the same period the previous year, Trend reports.
The data from the Central Bank of Azerbaijan's (CBA) statistical
bulletin showed that payments on voluntary types of insurance
reached 167 million manat ($98 million) during the reporting
period, up 63.1 percent from the previous year.
Thus, for every 100 manat ($58.7) in insurance premiums, 40.7 manat
($23.9) accounted for payments, which is a considerable increase
over the previous year's total of 30 manat ($17.6).
In parallel, 17 insurance companies in Azerbaijan collected 542.8
million manat ($319.3 million) in insurance premiums in the first
four months of this year.