In 2022, insurance collections in Azerbaijan increased by 15% compared to the previous year and reached 970,823 million manats.
"APA-Economics" reports about this with reference to the Central Bank of Azerbaijan.
Last year, the volume of total payments of insurance companies was 433,202 million manats.
In other words, last year insurance payments decreased by 5.6% compared to 2021.
As a result, the total loss of the insurance market decreased by 18%.
So, if last year 44.6 manats of every 100 manats of insurance premiums were collected, this figure for 2021 was 54.4 manats.