Non-life insurance market in Azerbaijan grows by 7%

In January-July of 2025, a total of 406.435 million manats (just over $239 million) in insurance premiums were collected in Azerbaijan through non-life insurance types, marking a 7.1% surge year-on-year, Report informs, citing the Central Bank of Azerbaijan.

During the specified period, payments on non-life insurance types increased by 7.2% to 153.257 million manats (over $90.1 million).

Thus, out of every 100 manats ($58.8) of insurance premiums collected in the non-life insurance market in two months, 37.7 manats ($22.18) were returned to customers. This figure was 37.7 manats a year ago ($22.18 million).

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.