In the first quarter of 2026, total net profit of the Azerbaijani insurance market fell significantly year-on-year, by 32%, to AZN 15.81 million (~EUR 8.10 million), ABC.AZ reports.

In the reporting period, net profit of one of the market leaders, PAŞA Sığorta, fell by 40% year-on-year, to AZN 8.52 million. However, despite this, the company keeps about 54% of the market.

A similar trend was recorded by Qala Sığorta, which ranks second: its profit fell by 35% to AZN 2.89 million. Xalq Sığorta, ranked third, and unlike the overall market picture, demonstrated the highest growth rate: its net profit increased by 165% to AZN 1.48 million.

Azərbaycan Sənaye Sığorta posted the weakest performance on the market, ending the first quarter with a loss of AZN 94,100, even though it recorded a profit in the same period last year, the source added.

*EUR 1 = AZN 1.95 (as of March 31, 2026)