In January-February 2023, 69 million will be paid in Azerbaijan due to the types of life insurance.

634.5 thousand manats, and 101 million manats due to non-life insurance types.

792.9 thousand manat insurance premium was collected.

"APA-Economics" reports with reference to the Central Bank of Azerbaijan that compared to the corresponding period of 2022, collections on life insurance increased by 35.6% or 18 million.

274 thousand manats, and collections on non-life insurance are 11% or 10 million manats.

It has increased by 16 thousand manats.

It should be noted that during the reporting period, the amount of payments for types of life insurance increased 3.7 times to 37 mln.

517.2 thousand manats, and the volume of payments for non-life insurance types increased by 4.2% to 15 million manats.

It was equal to 73.8 thousand manats.

Thus, in the months of January-February of the current year, 53.9 manat insurance payments were made for every 100 manat insurance premium collected in the life insurance market.

This figure was equal to 19.5 manats in January-February 2022.

In the months of January-February of this year, the amount of payment per 100 manats of insurance premium in the non-life insurance market was 14.8 manats, which was equal to 15.8 manats in the corresponding period of last year.