In January-October 2022, life insurance premiums in Azerbaijan collected by five insurance companies reached AZN 327.1 million (~EUR 193.55 million), which is 46.6% more y-o-y, ABC.AZ wrote with reference to the data of the insurance association.

Compared to the same period last year, premiums increased by AZN 103.9 million. During this period, the share of the life insurance market increased to 93.1% from 85.2% in the same period of 2021.

In 10M2022, life insurance paid claims decreased by 6% to AZN 197.4 million from AZN 210 million a year earlier.

*EUR 1 = AZN 1.69 (01.11.2022)