BAKU, Azerbaijan, May 27. Insurance companies in Azerbaijan collected 22.8 million manat ($13.4 million) in motor vehicle insurance contributions.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that this marks an increase of 4.7 million manat ($2.7 million) or 26.1 percent compared to the same period in 2024.
Moreover, payouts under motor vehicle insurance totaled 9.3 million manat ($5.4 million), which is 2.7 million manat ($1.5 million) or 40.8 percent more than in the same months of the previous year.
Overall, insurance companies in Azerbaijan collected 588.5 million manat ($346.1 million) in insurance premiums from January through April 2025.
This is an increase of 8.4 percent year-on-year. Meanwhile, total insurance payouts in Azerbaijan reached 231.3 million manat ($136 million), reflecting a 10.4 percent rise compared to the same period last year.
