Location map
author: OCHA/ ReliefWeb

- Southwestern Asia, bordering the Caspian Sea, with a small European portion north of the Caucasus range.
- Neighbours: Turkey, Armenia, Georgia, Russia, Iran.

- dry, semiarid steppe.

Natural hazards:
- droughts.

Macro indicators
* 2018 estimates
Pop. density*:114.8people/km2
GDP*:39.7EUR billion

Currency: Manat
Code: AZN
Since: 2006

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:17%




tari standard

Azerbaijan 1H2020 Insurance Companies Rankings

tari standard

Azerbaijan 1H2020 Market Portfolio

See all statistics

Latest news

AZERBAIJAN: for 10 months life insurance dropped by almost 40%

From January to October 2019, GWP of the voluntary Health insurance increased by almost AZN 10 million (~EUR 5.27 million), Motor Hull increased by about 20%, while Life insurance, on the contrary, decreased by almost 40% y-o-y, and these trends will continue, said Azer ALIYEV.

STATISTICS: AZERBAIJAN, 3Q2019: life insurance dropped by more than 7% y-o- y

From January to September 2019, total market GWP decreased by 8.11% y-o-y, to AZN 522.45 million (EUR 281.01 million). Paid claims, on the contrary, went up by almost 8% and reached AZN 201.70 million (EUR 108.49 million), as the data, published by the Azerbaijan's Financial Market Supervisory Authority (FIMSA) show.

AZERBAIJAN: pension insurance agreement marks an important step in cooperation with Bulgaria

In November 2019, Azerbaijani Minister of Labor and Social Protection of the Population, Sahil BABAYEV and Bulgarian Ambassador Nikolay YANKOV at the DOST (Sustainable and Operative Social Security) Agency signed an intergovernmental agreement on pension insurance in Baku, as Azernews reported with reference to the Ministry of Labor and Social Protection of the Population.

AZERBAIJAN: the country to expand cooperation with Iran in insurance sector

Over the past year, more than 70% trade growth between Azerbaijan and Iran indicates the development of mutual relations, both countries being keen on the implementation of mutually beneficial business projects, in a bid to stimulate trade volume, according to the Iranian Minister of Economic Affairs and Finance, Farhad DEJPASAND.