BAKU, Azerbaijan, April 26. Azerbaijani insurance companies' non-life insurance premium collections reached 129.8 million manat ($76.3 million) from January through March 2025.
Data obtained by Trend from the Central Bank of Azerbaijan indicates this figure's growth by 6.8 million manat ($4 million) or 5.5 percent compared to the same period in 2024.
Meanwhile, the country's volume of payments for non-life insurance amounted to 25.6 million manat ($15 million) during the reporting period, marking a decrease of 2.1 million manat ($1.2 million) or 7.6 percent year-on-year.
In the first quarter of 2024, non-life insurance collections by insurance companies in Azerbaijan amounted to 123 million manat ($72.3 million), and payments amounted to 27.7 million manat ($16.3 million).
To note, insurance companies operating in Azerbaijan collected 399.1 million manat ($234.7 million) in insurance premiums in the first quarter of 2025, marking a seven percent increase compared to the same period last year, or an additional 26 million manat ($15.2 million).
Moreover, during the first quarter, insurance companies made payments totaling 164 million manat ($96.4 million), which also represents a seven percent increase, or 10.7 million manat ($6.2 million) more, compared to the previous year.
Meanwhile, insurance companies in Azerbaijan collected 373.1 million manat ($219.4 million) in premiums and made insurance payments of 153.3 million manat ($90.1 million) in the first quarter of 2024.
During this period, for every 100 manat ($58.8) of insurance premiums collected, 41.1 manat ($24.1) was paid out in claims.