BAKU, Azerbaijan, April 26. Azerbaijan's insurance companies collected property insurance premiums amounting to 40.3 million manat ($23.7 million) from January through March 2025.
Data obtained by Trend from the Central Bank (CBA) indicates this figure's increase by 307,000 manat ($180,590), or 0.6 percent, compared to the same period in 2024.
Moreover, the volume of property insurance payouts during this period totaled 8.5 million manat ($5 million), marking a year-on-year growth of 1.2 million manat ($710,000), or 16.4 percent.
In the first quarter of 2024, insurance companies' collections for property insurance in Azerbaijan amounted to 52.4 million manat ($30.8 million), and payments - 7.3 million manat ($4.3 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).
Meanwhile, 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.
Azerbaijan's insurance companies 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.
