BAKU, Azerbaijan, April 1. Life insurance premiums collected by insurance companies in Azerbaijan from January through February 2025 amounted to 110.1 million manat ($64.7 million).
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that this figure represents an increase of 23 million manat ($13.5 million), or 26.4 percent, compared to the same period in 2024.
Moreover, the volume of life insurance payments reached 69.8 million manat ($41 million) during the reporting period, reflecting an increase of 9.7 million manat ($5.7 million), or 16.2 percent, compared to January-February 2024.
To note, the insurance premium totaling 281.2 million manat ($165.4 million) was collected via insurance companies in Azerbaijan from January through February 2025, which is a growth of 17.2 percent or 41.5 million manat ($24.4 million) compared to the same period in 2024.
In addition, insurance companies made insurance payments totaling 108.6 million manat ($63.8 million) during the reporting period, which is an 11.5 percent rise compared to the same months in 2024.
To note, 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.