Azerbaijan’s insurance market grows by over 10%

In January-October 2016, the insurance premiums increased by 36 percent to hit 191 million manats.

Collections on voluntary insurance increased by 15 percent to 272.2 million manats, while payments on voluntary insurance rose by 38 percent to stand at 143.68 million manats.

Collections on compulsory insurance amounted to 148 million manats (a 4-percent increase) and payments on compulsory insurance were 47 million manats (a 30-percent increase), according to the report.