Baku: Azerbaijan’s insurance market collected a total of 719.4 million manats in premiums from January to May 2025, marking an 11.7% increase compared to the same period last year, the Central Bank of Azerbaijan told APA.

According to Azeri-Press News Agency, of the total premiums, 417.7 million manats were generated from life insurance, while non-life insurance contributed 301.7 million manats. Within the life insurance sector, voluntary life insurance accounted for 370.6 million manats, and compulsory life insurance stood at 47.1 million manats. In the non-life insurance segment, voluntary policies brought in 177.6 million manats, and compulsory policies contributed 124.1 million manats.

Insurance payouts also saw a rise, increasing by 14.8% year-on-year to reach 314.8 million manats. Life insurance payouts amounted to 205.3 million manats, reflecting a 20.5% increase. Non-life insurance payouts were 109.5 million manats, marking a 5.4% increase. Compulsory and voluntary insurance payouts stood at 2.2 million and 54.3 million manats, respectively.