Life insurance payouts in Azerbaijan rise nearly 32% year-on-year

Life insurance premiums collected in Azerbaijan amounted to 580.017 million manats ($341.19 million) in January–July this year, up 9.2% compared with the same period last year.

According to the Central Bank of Azerbaijan (CBA), cited by Report, payouts under life insurance policies increased by 31.8% during the reporting period, reaching 495.731 million manats ($291.61 million).

Thus, over the seven-month period, insurers returned 85.5 manats for every 100 manats in premiums collected in the life insurance market. A year earlier, this figure stood at 70.8 manats per 100 manats.