Profitability in life insurance market grows - Report

12:19 - 27.02.2024

February 27, Fineko/ Profitability in the life insurance market is growing in Azerbaijan in January 2024.

Voluntary life insurance companies received income from the difference in insurance payments with insurance premiums in the amount of 18.61 million manats, ABC.AZ with reference to the Central Bank. So, in January 2023, this amounted to 14.64 million mantas (a rise of 27% against January 2022).

The insurers demonstrated an increase in premiums by 40.17 million manats and payments by 21.56 million manats by 17% and 10%, respectively.

The main part of the premiums on life insurance (37.87 million manats) and death insurance (2 million manats).