At the end of 2022, total assets of the insurance sector of Azerbaijan amounted to AZN 1.594 billion (~EUR 0.88 billion), ABC.AZ wrote with reference to the report on the activities of the Cabinet of Ministers for 2022. According to the report, this is 20.3% more than at the end of 2021.

At the beginning of 2023, 40% or AZN 719 million of insurers' assets were investments in securities, which is 35.2% more y-o-y. This includes investments of insurers in state securities which increased by 38.3% to AZN 632 million, and investments in non-state securities - up by 16% to AZN 87 million.

During the reporting period, insurers' funds on deposit accounts increased by 3.6% to AZN 319 million, other assets in cash - by 15.5% to AZN 119 million, other assets - by 14.7%, amounting to AZN 438 million, the source said.

*1 EUR = 1.8114 AZN (December 31st, 2022)