Azerbaijan’s insurance market declines by 6%

In 2019, 21 Azerbaijan-based 22 insurers collected AZN 681.177 million in premiums, down 6.4% from the previous year, Report informs citing the Central Bank of Azerbaijan (CBA).

In the reporting period, the insurance payments amounted to AZN 301.537 million, up 25.5% in comparison to a year earlier.

During the reporting period, 44.3 AZN of insurance payments accounted for per 100 AZN insurance premiums, while this figure was AZN 33 in 2018.