Life insurance market in Azerbaijan up 26%

Some 383.108 million manats (+26.1%) were collected for life insurance in Azerbaijan in 2021, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of payments on life insurance amounted to 239.786 million manats (-15.3%).

Last year, 62.6 manats were paid for every 100 manats collected on life insurance. Last year, this figure was 93.2 manats.

Five insurance companies in Azerbaijan ("Qala Life", "PASHA Life Insurance", "Xalq Life", "Mega Hayat", and "Ateshgah Life") have licenses to provide life savings insurance services.