Compulsory insurance market in Azerbaijan grows in 1H2024

Approximately 184.1 million manats (just under $108.3 million) in insurance premiums were collected from compulsory insurance in Azerbaijan in the initial six months of 2024, up 3.3% year-on-year, Report informs, citing Central Bank of Azerbaijan (CBA).

During the reporting period, the amount of payments for compulsory insurance amounted to 61,623 million manats ($36.24 million), which is 22.7% more than a year ago.

Thus, 33.5 manats ($19.71) of each 100 manats ($58.82) collected from the compulsory insurance market were reimbursed in the first half of 2024. This figure stood at 28.2 manats ($16.59) in the corresponding period of 2023.