Azerbaijan
AZERBAIJAN: ICIEC to expand portfolio of guarantees and insurance solutions for projects in Azerbaijan
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has provided insurance coverage in Azerbaijan totaling approximately USD 120 million over five years, according to Yasser Alaki, Director of the Business Development Department at ICIEC, Trend reports.
12 May 2026STATISTICS: AZERBAIJAN, 1Q2026: Voluntary life insurance market share exceeds half of total GWP
In the first quarter of 2026, the Azerbaijani insurance market amounted to AZN 417.75 million (EUR 214.25 million), which indicates a mere 4.68% increase y-o-y, according to data published by the Central Bank of Azerbaijan.
12 May 2026AZERBAIJAN: Trend: The insurance sector entered a more complex and diversified phase
The insurance sector of Azerbaijan has entered a dynamic development phase in recent years, both in terms of structure and financial indicators. FY2025 data show that the market, in addition to having an already formed institutional framework, retains the potential for growth and deepening, Trend writes.
4 May 2026AZERBAIJAN: Insurance market net profit down 32% in 1Q2026
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.
4 May 2026AZERBAIJAN: Qala Sığorta's net profit drops sharply in 1Q2026
Qala Sığorta, a top-5 insurer in Azerbaijan based on FY2025 results, reported net profit of AZN 2.89 million (~EUR 1.48 million) in the first quarter of 2026, down 35.21% from AZN 4.46 million in the same period of 2025, ABC.AZ reports.
28 April 2026AZERBAIJAN: Reinsurance premiums ceded decrease by 12% last year
In 2025, reinsurance premiums declined by 12% y-o-y, reaching AZN 135 million (~EUR 67.42 million),
20 April 2026AZERBAIJAN: GWP fall by 1.3% in January-February, while paid claims jump by 37%
In Azerbaijan, 16 insurance companies collected AZN 277.56 million (~EUR 138.22 million) in January-February 2026, which indicates a 1.3% decrease y-o-y, ABC.AZ reports, citing information from the Central Bank of Azerbaijan (CBA). Paid claims in the reporting period reached AZN 148.8 million (~EUR 74.10 million), a 37% increase y-o-y.
6 April 2026The Azerbaijan Insurers Association appoints Abas Miskarli as new Executive Director
The Azerbaijan Insurers Association (ASA) has appointed a new Executive Director, following a decision taken at the General Meeting of Founders dedicated to reviewing the organization’s 2025 results.
2 April 2026AZERBAIJAN: Mandatory insurance GWP decline, while paid claims rise in January
In January 2026, AZN 20.14 million (~EUR 9.92 million) were collected in mandatory insurance in Azerbaijan, which is 12.6% less y-o-y, Trend reports citing the Central Bank of Azerbaijan.
19 March 2026AZERBAIJAN: GWP on the market decline in January, while paid claims rise by more than 30%
In January 2026, total GWP of 16 insurance companies operating in Azerbaijan amounted to AZN 156.6 million (~EUR 77.14 million), which is 4.3% less y-o-y, ABC.AZ reports, citing the Central Bank of Azerbaijan (CBA).
3 March 2026AZERBAIJAN: Azerbaijan to establish unified standards for all insurance companies
Azerbaijan is set to introduce unified standards for all insurance companies operating in the country, according to Seymur Mirzayev, Deputy Executive Director of the Compulsory Insurance Bureau (CIB), Trend reports.
18 February 2026STATISTICS: AZERBAIJAN, FY2025: Life insurance records double-digit growth in paid claims
At the end of 2025, Azerbaijani insurance market amounted to AZN 1,504.71 million (EUR 751.53 million), which in local currency is 11.20% more y-o-y, according to data published by the Central Bank of Azerbaijan. At the same time, in euros the market performance was negative (-1.56%).
18 February 2026AZERBAIJAN: Voluntary property fire insurance drops last year
In 2025, voluntary property insurance against fire and other risks in Azerbaijan amounted to AZN 85.53 million (~EUR 42.76 million), which means a 3.8% decrease compared to 2024, ABC.AZ reports.
3 February 2026AZERBAIJAN: Paid claims in agroinsurance growing in Azerbaijan
The number of farms using state-supported agricultural insurance in Azerbaijan is growing, as are paid claims.
26 January 2026AZERBAIJAN: In January-November 2025, the market grew by almost 12% y-o-y
In January-November 2025, the insurance sector of Azerbaijan totaled AZN 1,365.35 million (~EUR 0.69 billion), which is 11.7% more y-o-y, ABC.AZ writes with reference to the report of the Central Bank of Azerbaijan.
12 January 2026AZERBAIJAN: The loss ratio in insurance of civil liability for owners of motor vehicles exceeded 75% in January-October
The loss ratio in insurance of civil liability for owners of motor vehicles in Azerbaijan has increased, reaching 75.1% for the first 10 months of this year, ABC.AZ writes, citing a report from the Central Bank of Azerbaijan.
11 December 2025AZERBAIJAN: In January-October the market rises by almost 13% y-o-y
In January-October 2025, Azerbaijani insurance companies collected AZN 1.256 billion (~EUR 0.64 billion), which indicates a 12.9% increase y-o-y, ABC.AZ reports, citing the Central Bank of Azerbaijan.
3 December 2025STATISTICS: AZERBAIJAN, 3Q2025: Claims growth significantly outpaces premium growth
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.
10 November 2025AZERBAIJAN: Azerbaijan and Türkiye sign a Memorandum of Understanding to strengthen cooperation in insurance industry
Azerbaijan and Türkiye have signed a Memorandum of Understanding (MoU) on strengthening mutual cooperation in the insurance sector, according to the Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, Trend reports.
4 November 2025AZERBAIJAN: Insurance sector assets rise 4.5% in the first half of the year
Insurance sector assets grew by 4.5% in the first half of 2025, reaching AZN 2.14 billion (~EUR 1.07 billion). Government securities make up the largest share - 40% of assets (AZN 856 million), followed by bank funds (28% or AZN 600 million), ABC.AZ reports, citing Central Bank data.
22 October 2025
