12:04 - 21.01.2025

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January 21, Fineko/abc.az. In 2024, the volume of the insurance market approached 1.4 bn manats, ABC.AZ reports, quoting Vusal Gurbanov, the director of the CBA Insurance Supervision Department.

He noted that in 2024, the overall premiums on the insurance sector amounted to 1.35 bn manats, and compensation payments - 753 million manats. The premiums increased by 11% against 2023 and payments by 28%. 75% of the premiums accounted for voluntary types of insurance, and 25% for compulsory ones. At the same time, 54% of the premiums were life insurance premiums, and 46% were on non-life insurance.

"Considering that the steps taken by the Central Bank and the work done serve the development of the insurance market, we can say that next year these indicators will develop with positive dynamics," Gurbanov added.