From January to September 2025, the Azerbaijani insurance market totaled AZN 1,157.25 million (EUR 580.37 million), which means a 13.05% increase year-on-year in local currency, according to data published by the Central Bank of Azerbaijan. At the same time, market growth in euros appears more modest.

Total claims paid by local insurance companies during the reporting period reached AZN 683.90 million (EUR 342.98 million), which is 23.50% more than in 3Q2024.

In the first nine months of this year, GWP in non-life insurance totaled AZN 501.82 million (+8.25%), while non-life paid claims increased by 4.49%, reaching AZN 199.23 million.

From January to September, AZN 655.44 million were collected in life insurance, which indicates a 17.01% increase year-on-year. Life paid claims rose by 33.49%, reaching AZN 484.66 million.

Voluntary segment totaled AZN 881.84 million (+15.21%). Meanwhile, paid claims in voluntary insurance increased by 27.19%. Compulsory insurance grew by 6.63% during the reporting period, reaching AZN 275.41 million. Paid claims in compulsory insurance rose by 6.55%, roughly in line with premiums.

At the end of the third quarter of 2025, 16 insurers operated in the market. PASHA LIFE firmly holds the lead (AZN 530.84 million), with PASHA Insurance still in second place (AZN 272.93 million). Ateshgah Life, as it did last year, rounds out the top three (AZN 81.12 million).

Access xprimm.com and download the latest Azerbaijani insurance market statistics for 3Q2025 in EUR and AZN.