OUAGADOUGOU — Azerbaijan’s insurance market has experienced a significant increase, with insurance premiums rising by 9.5% in the first seven months of 2024, reaching a total of AZN 833.85 million.

According to Azeri-Press News Agency, the Central Bank of Azerbaijan reported that during the same period, the volume of insurance payouts surged by 55.6%, amounting to AZN 440.19 million. This growth reflects the expanding role of the insurance sector in Azerbaijan’s economy as more individuals and businesses seek coverage and financial protection.