Azerbaijan's insurance sector experienced 34.2% asset growth, 67.8% increase in premiums, and 26.3% rise in payments in the past three years.
Azerbaijan's insurance sector has seen growth in the past three years, with assets increasing by 34.2%. Balance capital increased by 7.7%, insurance premiums by 67.8% to 1 billion 223 million manats, and insurance payments by 26.3% to 587 million manats. The sector's share in GDP has exceeded 1%, with the potential to reach 2%. The first Insurtech Forum was co-organized by Azerbaijan's Insurers Association and Turkey's InsurTech Hub, featuring Turkish insurance organizations and companies.
April 16, 2024
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