BAKU, Azerbaijan, January 31. The property insurance collections and payments grew in Azerbaijan last year.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that the collections amounted to 233.5 million manat ($137.77 million), up 51.8 million manat ($30.50 million), or 28.5 percent from 2023.
Meanwhile, the payments reached 37.9 million manat ($22.34 million), which is 15.9 million manat ($9.38 million), or 72.6 percent more than the figure for the previous year.
To note, the insurance collections in Azerbaijan totaled 1.3 billion manat ($764 million) during 2024, which is 130.6 million manat ($76.8 million), or 10.7 percent more than the indicator of 2023.
The volume of payments made by insurance companies last year reached 752.7 million manat ($442.7 million), which means an increase of 165.4 million manat ($97.2 million), or 28.1 percent.
