At the end of December 2016, Azerbaijan's 25 insurance companies reported aggregate gross written premiums of AZN 486 million (EUR 260 million), which is 9.7% more than in 2015. Claims paid by the local insurers totaled AZN 237 million (EUR 127 million), up by 32% y-o-y.

Of total GWP, the local insurance market consisted of about two thirds of voluntary insurance subclasses, and about one third of compulsory policies.

The Top 5 Azerbaijan insurers in GWP terms generated about 61% of total, and were formed by the following insurers: PASHA Sigorta (about 20,5% market share), PASHA Life Insurance (16%), AzerSigorta (8.5%), and the other two ATESHGAH subsidiaries: ATESHGAH Sigorta (8.2%) and ATESHGAH Hayat (7.7%).

Access www.xprimm.com and download the FY2016 Azerbaijani insurance market statistics.