BAKU, Azerbaijan, April 1. Azerbaijani insurance companies' non-life insurance premium collections reached 110 million manat ($64.7 million) from January through February 2025.
Data obtained by Trend from the country's Central Bank indicates this figure reflects a growth of six million manat ($3.5 million) or 5.8 percent compared to the same months in 2024.
Meanwhile, the country's volume of payments for non-life insurance amounted to 17.6 million manat ($10.3 million) during the reporting period, marking a decrease of 2.2 million manat ($1.3 million) or 11.1 percent year-on-year.
To note, the insurance premium totaling 281.2 million manat ($165.4 million) was collected via insurance companies in Azerbaijan from January through February of this year, which is growth by 17.2 percent versus the same period of 2024.
Additionally, Azerbaijan's insurance companies totally paid 108.6 million manat ($63.9 million) in the reporting period, growing by 11.5 percent against the same months of last year.
The Central Bank of the Republic of Azerbaijan executes its mandate for state regulation and oversight within the insurance sector, as delineated in Article 95 of the Law of the Republic of Azerbaijan “On Insurance Activities.” At present, there are 16 insurance entities functioning within the jurisdiction of Azerbaijan.