Life insurance premiums increased in 2021

21.01.2022,11:56


January 21, Fineko/abc.az. AZN 383.108 million of insurance premiums were collected in 2021 (26.1% more against 2020) at the expense of life insurance in Azerbaijan.

ABC.AZ reports that premiums on non-state life insurance amounted to AZN 460.789 million (8.45% more than a year ago).

Compensation payments on life insurance decreased by 15.3% to AZN 239.786 million and non-life insurance grew by 20.2% up to AZN 218.94 million last year.

Thus, in 2021, for every 100 manats collected in the life insurance market, 62.6 manats were returned to customers, and for every 100 manats collected in the life insurance market - 47.5 manats.

These figures amounted to 93.2 and 42.9 manats in 2020, respectively.