In January-April 2024, the insurance market of Azerbaijan grew by 16% or AZN 75.31 million. At the same time, the best positive dynamics was recorded in voluntary insurance, ABC.AZ reports with reference to the Central Bank of Azerbaijan.

Over the first four months, the voluntary insurance market grew by AZN 68.54 million (+20%). Another 20% of the growth or AZN 64.33 million was provided by voluntary life insurance, 5% or AZN 6.76 million - by compulsory insurance.

The highest growth dynamics was observed in voluntary life insurance - by AZN 59.72 million (+31% y-o-y).

It is noted that in January-April, insureds had the least interest in voluntary property insurance against fire and allied perils, voluntary insurance of agricultural crops and medical insurance.

*EUR 1 = AZN 1.82 (as of April 30, 2024)