In January-November 2023, the life insurance market in Azerbaijan amounted to AZN 572.82 million (~EUR 309.63 million), which is 27% more y-o-y, Trend reports, citing data from the Central Bank.

Life insurance paid claims increased by 19% and reached AZN 275.08 million (~EUR 148.69 million).

Total market GWP in Azerbaijan in January-November 2023 amounted to AZN 1.10 billion, which is 26.6% more y-o-y.

In the reporting period total paid claims of insurers reached AZN 497.46 million, which is 24.1% more than in January-November last year.

*EUR 1 = AZN 1.85 (01.12.2023)