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%




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Azerbaijan 1H2020 Insurance Companies Rankings

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Azerbaijan 1H2020 Market Portfolio

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Latest news

AZERBAIJAN: insurance market assets increased by almost 13.5% y-o-y

Total insurance market's assets at the end of 1Q2019 increased by about 13.5% y-o-y, to AZN 1.4 billion (~EUR 0.73 billion), Ibrahim ALISHOV, Acting Chairman of the Board of Financial Market Supervisory Authority of Azerbaijan (FIMSA) said in Baku at the 9th Forum "Insurance in Azerbaijan: Trends & Opportunities".

Just 15 days left until the 2019 edition of the Azerbaijan Insurance Conference; online registrations still opened

Developing several mandatory insurance lines, as well as reforming the agricultural insurance system or taking steps to the market's digitalization and general modernization are the main growth solutions that will be discussed on the occasion of the 2019 edition of the Conference "Insurance in Azerbaijan: Trends & Opportunities", 28 June 2019, Hilton Hotel, Baku, Azerbaijan.

AZERBAIJAN: regulator restricts AzerSigorta's license

The Financial Market Supervisory Authority of Azerbaijan (FIMSA) has restricted the license of the only state commercial insurer AzerSigorta, the regulator announced. Azerbaijan's Bureau of Compulsory Insurance (ISB) also restricted the insurer's access to its information system.

AZERBAIJAN: recent restrictions on Ateshgah Insurance Company removed

The Financial Market Supervisory Authority of Azerbaijan (FIMSA) removed recent restrictions on the license of Ateshgah for compulsory civil liability insurance for vehicle owners and allowed the company to conclude such contracts, Trend News Agency reported on April 30.

AZERBAIJAN: The market grew by 2% y-o-y in Jan-Feb

According to The Financial Market Supervisory Authority of Azerbaijan, total market GWP in January-February amounted to AZN 132.82 million (~EUR 68.69 million), 2.05% more y-o-y. Total paid claims dropped by 18.2%, to AZN 33.12 million (~EUR 17.13 million), Trend News Agency reports.