In January 2023, 20 Azerbaijani insurance companies collected GWP in the amount of AZN 133.94 million (~EUR 72.4 million), which is 13.7% more than in January 2022, ABC reports.

According to the Central Bank of Azerbaijan, total paid claims of the local insurers in the first month of this year amounted to AZN 35.16 million (~EUR 19 million), which is 2.1 times more y-o-y.

In January, on average, for every AZN 100 of insurance premiums, there were AZN 26.3 manats of paid claims. In the same period in 2022, this figure amounted to AZN 14.1.

*EUR 1 = AZN 1.85 (01.02.2023)