Azerbaijan's life insurance market grows by more than 30%

In January 2023, 38.692 million manats ($22.8 million) were collected in insurance premiums in Azerbaijan as part of life insurance (+30.3%), Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, payments with type of life insurance increased by 3.96 times to 19.852 million manats ($11.7 million).

Thus, 51.3 manats ($30.18) of insurance payments accounted for every 100 manats ($58.82) of insurance premiums, while this figure was 16.9 manats ($9.94).