Azerbaijan's Insurance Sector Thrives With Record-Breaking Financial Performance

2025-04-16 12:07:31

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 16. The financial indicators of Azerbaijan's insurance sector improved last year, including increases in both inclusivity and depth, the Central Bank of Azerbaijan (CBA) told Trend .

"The deepening of the insurance market has made it one of the key institutional investors in the financial sector. During 2024, insurance premiums increased by 11 percent compared to the previous year, reaching 1.4 billion manat ($823.5 million), while insurance payouts rose by 26 percent to 737 million manat ($433.5 million). The sector operated with high profitability. The total capital of the sector exceeded the required capital by more than 1.9 times. Although the share of investment companies in the financial system is small, the growth potential is significant.

The circulation of securities in the capital market also saw substantial growth compared to 2023. Efforts to improve capital market infrastructure and modernize the regulatory framework continued throughout the year," the information added.

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