BAKU, Azerbaijan, March 4. In January of this year, insurance companies in Azerbaijan raked in a tidy sum of 25.5 million manat (about $15 million) from property insurance premiums.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that this figure grew by 106,000 manat ($62,350), or 0.4 percent, compared to the same month last year when the volume of insurance premiums for property insurance in Azerbaijan reached 25.4 million manat ($14.9 million).
During the reporting month, the volume of insurance payouts for property insurance was 3.4 million manat ($2 million), which is 692,000 manat ($406,000), or 25.5 percent more than last year when the volume of property insurance payouts was 2.7 million manat ($1.6 million).
To note, in January of this year, the insurance payment was 13.4 manat ($7.9) for every 100 manat ($59) of collected property insurance premiums. This is 2.7 manat ($1.6) more than the same month the previous year. This sum was 10.7 manat ($6.3) in the same month the previous year.Additionally, in January 2025, insurance companies in Azerbaijan collected a total of 163.7 million manat ($95.7 million) in insurance premiums, which is 17.6 percent more compared to the same period last year. At the same time, last month, the insurance companies in Azerbaijan made payouts of 47.6 million manat ($27.9 million), which represents a 22.8 percent increase compared to the same month last year.
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