17:20 - 14.05.2025

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May 14, Fineko/abc.az. As a result of large-scale insurance literacy improvement projects implemented in recent years, the local insurance market has grown in Azerbaijan in 2023 and 2024.

ABC.AZ informs that Elmar Mirsalayev, the executive director of the Association of Insurers of Azerbaijan (ASA), said that the Insurance Festival Project also played a significant role in this growth:

"So, in 2023, the total volume of insurance premiums amounted to 1.222 billion manats, and the insurance market grew by 26%. In 2024, with premiums of 1.353 billion manats, an increase of 11% was recorded," he said.

By Elmir Murad