Azerbaijan sees 40% growth in insurance market

Baku. 21 September. REPORT.AZ/ The insurance premium of Azerbaijan-based 21 insurers  amounted to AZN 517 mln in January-August 2018, up 40.1% from the previous year.

In the reporting period, the payments neared AZN 169 mln, up 0.9% in comparison to a year earlier.

Premiums on voluntary insurance types stood at AZN 375 mln, payments at AZN 125 mln. At the same time, premiums on compulsory insurance types made up AZN 142 mln, payments – AZN 44 mln.

The insurers paid AZN 32.6 for each AZN 100 premium in January-August 2018, while it was AZN 45.3 a year earlier.