AZERBAIJAN plans to increase insurance sector assets

29 January 2024 — Marina MAGNAVAL
In Azerbaijan, it is planned to increase the assets of the insurance sector from the current AZN 1.9 billion (~EUR 1.02 billion) to AZN 3.7 billion (~EUR 2 billion), Report writes with reference to the “Financial Sector Development Strategy for 2024-2026” approved by the Central Bank of Azerbaijan (CBA).

“GWP for voluntary insurance in the country are expected to increase from the current AZN 350 million to AZN 630 million, while GWP in life insurance - from the current AZN 124 million to AZN 280 million”, the document says.

*EUR 1 = AZN 1.85 (28.01.2024)