In the first five months of this year, the volume of premiums collected by insurance companies in Azerbaijan amounted to 719.3 million manats.
elchi reports, citing the Central Bank of Azerbaijan, that this is 1.8% more compared to the same period last year.
During the reporting period, the amount of payments made by insurance companies totaled 409.6 million manats. This figure is 30% higher in annual comparison.
It should be noted that the loss ratio of the insurance market has increased during this period. Specifically, in the first five months of the year, 55.9 manats were paid out for every 100 manats of insurance premiums collected in the insurance market. In the same period last year, this figure was 43.8 manats.