BAKU, Azerbaijan, March 4. The volume of voluntary insurance premiums collected by insurance companies operating in Azerbaijan amounted to 140.6 million manat ($83 million) in January 2025.
Data obtained by Trend from the Central Bank of Azerbaijan shows that this figure grew by 22.3 million manat ($13 million), or 18.9 percent from the same month last year when the volume of voluntary insurance premiums collected by insurance companies operating in the country was 118.3 million manat ($69.9 million).
During the reporting month, the volume of payments for this insurance class was 37.5 million manat ($22.1 million), which is seven million manat ($4 million), or 23 percent more compared to last January when the volume of voluntary insurance payments made by insurance companies operating in Azerbaijan amounted to 30.5 million manat ($18.0 million).
This January, for every 100 manat ($59) of insurance premium collected for the above type of insurance, 26.7 manat ($15.7) was paid as an insurance payment, which is 0.9 manat ($0.5) more than in January of last year, when the amount was 25.8 manat ($15.2).
To note, in January of this year, insurance premiums amounting to 163.7 million manat ($96.6 million) were collected through insurance companies in Azerbaijan. This indicator grew by 17.6 percent compared to the same month last year. Additionally, in January of this year, insurance payments in the amount of 47.6 million manat ($28.1 million) were made by insurance companies in Azerbaijan, which represents a 22.8 percent increase compared to the same month last year.