Insurance companies in Azerbaijan collected over 248.989 million manats ($146.5 million) in premiums in the first quarter, up 3.4 percent from the same period last year, the Central Bank said.

The payments made by insurance companies during the first three months of this year amounted to 145.345 million, which is 88.5 percent more than a year earlier.

Over the past three months, 58.4 manats of insurance payments accounted for per 100 manats insurance premiums, while this figure was 32 manats in January-March 2020.

There are 20 insurance companies operating in Azerbaijan.