In January 2022, 20 Azerbaijani insurers collected AZN 118.23 million (~EUR 61.85 million*) of premiums, abc.az reports according to the data of the Central Bank of Azerbaijan. This is 13.67% higher in the same period a year earlier.

Such growth was driven by increased GWP in life, health, and property insurance. At the same time, compulsory insurance decreased.

Paid claims of the local insurers in January amounted to AZN 16.62 million (~EUR 8.69 million), which is 70.76% less than in January 2021.

It is noted that in January 2022, GWP of 10 insurance companies out of 20 operating in Azerbaijan decreased y-o-y.

*EUR 1 = AZN 1.9113 (01.02.2022)