Azerbaijan's life insurance market rises by over 17%

In January-July of 2025, a total of 531.223 million manats (nearly $312.5 million) in insurance premiums were collected for life insurance types in Azerbaijan, representing a 17.1% increase year-on-year, Report informs, citing the Central Bank of Azerbaijan (CBA).

In the specified period, payments on this type of insurance rose by 27.2% to 376.05 million manats (just over $221.2 million).

Consequently, for every 100 manats ($58.82) collected in life insurance premiums during January 2025, 70.8 manats ($41.65) were returned to customers. This figure stood at 65.2 manats ($38.35) a year ago.

Overall, 16 insurance companies in Azerbaijan collected insurance premiums totaling 937.658 million manats (over $551.5 million) in 7 months, marking a 12.5% year-on-year increase.

The total amount of payments made by insurance companies during this period was 529.307 million manats (over $311.3 million), a 20.7% rise from the previous year.