BAKU, Azerbaijan, April 29. According to the results of 1Q2022, fees for voluntary insurance types in Azerbaijan exceeded 193.9 million manat ($114.05 million), which is 38 million manat ($22.3 million) or 24.6 percent more than the same period last year, Trend reports citing Central Bank of Azerbaijan Republic (CBAR).
The share of voluntary life insurance in voluntary insurance premiums exceeded 45 percent and amounted to 88.1 million manat ($51.8 million).
A significant share (91.5 percent) in life insurance was occupied by accumulative life insurance, fees for which exceeded 80 million manat ($47.05 million), which is 77.4 percent more than the same period in 2021.
Azerbaijani insurers made payments on voluntary types of insurance in the amount of 38.8 million manat ($22.8 million) in 1Q2022, which is 62.7 percent less than the same period in 2021.
A significant share (94.7 percent) in life insurance was occupied by accumulative life insurance, payments on which exceeded 15 million manat ($8.8 million).
