AZERBAIJAN: insurance sector assets rise by more than 13% in 2023

12 March 2024 — Marina MAGNAVAL
As of January 1, 2024, the assets of the insurance sector of Azerbaijan amounted to AZN 1.80 billion (~EUR 0.96 billion), which is 13.2% more than at the end of 2022, ABC.AZ writes with reference to the report of the Cabinet of Ministers for 2023.

At the beginning of 2024, AZN 952 million (+32.4%) were invested in securities, which is equal to 52.8% of all sector assets. At the same time, insurers' investments in government securities increased by 33.2%, to AZN 842 million, and investments in non-government securities - by 26.4%, to AZN 110 million.

During the reporting period, insurers' funds in deposit accounts increased by 1.9%, to AZN 325 million.

1 EUR = 1.8766 AZN (December 31st, 2023)



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