BAKU, Azerbaijan, April 27. Azerbaijan's insurance companies collected life insurance premiums amounting to 168.5 million manat ($99.42 million) and made insurance payments worth 107.4 million manat ($63.33 million) from January through March of this year.
Data obtained by Trend from the Central Bank (CBA) shows that compared to the same period in 2024, premiums for this type of insurance increased by 23.5 million manat ($13.85 million), or 16.2 percent, and payments grew by 11.7 million manat ($6.91 million), or 12.2 percent.
From January through March of last year, insurance companies in Azerbaijan collected 145 million manat ($85.55 million) in life insurance premiums and made insurance payments worth 95.7 million manat ($56.43 million).
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 the mentioned period, for every 100 manat ($58.8) of insurance premiums collected, 41.1 manat ($24.1) was paid out in claims.
