Azerbaijan insurers collect $656.1 million in premiums

Azerbaijan's 16 insurance companies collected 1.115 billion manats ($656.1 million) in insurance premiums in January-August this year.

According to Report, citing the Central Bank of Azerbaijan, this was 6.4% more than in the same period last year.

Insurance payouts during the reporting period amounted to 773.153 million manats ($454.8 million), up 28.1% year on year.

For every 100 manats in insurance premiums collected during the first eight months, 69.3 manats were paid out in claims.

In the same period last year, the figure stood at 57.6 manats.