Azerbaijan
AZERBAIJAN: 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 2025AZERBAIJAN: The Central Bank explains alternative life insurance offerings
The existing life insurance products in Azerbaijan will be presented in a new format. Alternative life insurance offerings include burial insurance for final expenses, critical illness cover for serious health issues, mortgage protection insurance to cover home loans, and guaranteed issue policies for those who can't get traditional coverage.
13 October 2025AZERBAIJAN: Voluntary and compulsory insurance rise in January-August
Voluntary insurance in Azerbaijan totaled AZN 798.21 million (~EUR 401.11 million) in January-August, according to the Central Bank of Azerbaijan, which indicates a 15.2% y-o-y increase, ABC.AZ reports.
7 October 2025AZERBAIJAN: The insurance market grows by 13% in January-August
In January-August of this year, 16 insurance companies in Azerbaijan collected AZN 1.04 billion (~EUR 526.67 million) in premiums, which is 13% more y-o-y, ABC.AZ reports, citing the Central Bank.
2 October 2025AZERBAIJAN: Assembly of the Union of Insurers of the Turkic World held for the first time
The first Assembly of the Union of Insurers of the Turkic World was held in the Azerbaijani city of Shusha, according to the Azerbaijan Insurers Association (AIA), Trend writes.
23 September 2025AZERBAIJAN: The market rose 12.5% in January-July
In January-July 2025, total GWP of 16 insurance companies, operating on the market in Azerbaijan, amounted to AZN 937.658 million (~EUR 483.33 million), which is 12.5% more y-o-y, ABC.AZ writes with reference to the Central Bank.
8 September 2025First Assembly of Turkish World Insurance Association will be held in Shusha this year
The first Assembly of the Turkic World Insurance Union will be held on September 14 of this year in Shusha, Azerbaijan, with the strategic support of the Central Bank of Azerbaijan, the organization of the Azerbaijan Insurers Association and the participation of the Organization of Turkic States, Azeri APA news agency wrote.
4 September 2025AM Best assigns Credit Ratings to PASHA Insurance OJSC
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to PASHA Insurance OJSC (PASHA Insurance) (Azerbaijan). The outlook assigned to these Credit Ratings (ratings) is stable.
4 September 2025AZERBAIJAN: Total amount of compensation for damage to farmers in 1H rises 55%
In 1H2025, total GWP of the Agricultural Insurance Fund amounted to AZN 13.11 million (~EUR 6.57 million), which is 18% more y-o-y. Including, in crop production, GWP increased by 13%, and in livestock - by 65%, Trend writes with reference to the Ministry of Agriculture of Azerbaijan.
21 August 2025STATISTICS: AZERBAIJAN, 1H2025: the share of life insurance increased to 58%
The insurance market of Azerbaijan in the first half of 2025 grew by 12.67%, to AZN 817.05 million (EUR 409.67 million), according to the data published by the National Bank.
5 August 2025AZERBAIJAN: in January-May, the market grew by 11.7% y-o-y
The insurance market of Azerbaijan in January-May 2025 amounted to AZN 719.4 million (~EUR 372.74 million), which is 11.7% more y-o-y, ABC.AZ writes with reference to the data of the Central Bank of Azerbaijan.
11 July 2025AZERBAIJAN: AI helps insurers optimize processes and save resources
The use of AI has led to a 30-60% reduction in operating expenses of insurance companies in Azerbaijan and a halving of lost time, ABC.AZ writes with reference to the Azerbaijan Insurers Association (ASA).
25 June 2025AZERBAIJAN: Compulsory insurance development strategy for 2025-2027 approved
The Insurance Sector Development Strategy of the Compulsory Insurance Bureau (CIB) for 2025-2027 has been approved in Azerbaijan. It was developed to ensure sustainable, innovative and transparent development of the compulsory insurance sector in Azerbaijan, Trend writes with reference to the CIB.
17 June 2025AZERBAIJAN: The insurance sector sees dynamic evolution in January-April
The insurance sector of Azerbaijan recorded dynamic development in January-April 2025 as total GWP reached AZN 588.46 million (~EUR 304.90 million), ABC.AZ reports with reference to the Central Bank.
2 June 2025AZERBAIJAN: Social insurance revenues rose by 14.6% in January-April
Amidst legalization of the number of hired workers and the wage fund, budget revenues from compulsory state social insurance in Azerbaijan from January through April of this year amounted to AZN 2.03 billion (~EUR 1.05 billion), ABC.AZ writes with reference to the State Tax Service. According to the State Tax Service, this is 14.6% more y-o-y.
29 May 2025STATISTICS: AZERBAIJAN, 1Q2025: Growth rates of GWP and paid claims were almost the same
The insurance market of Azerbaijan grew by 6.95% in the first quarter of 2025, reaching AZN 399.08 million (EUR 214.77 million). The market growth is supported by life insurance, which rose by almost 15%, while non-life insurance saw a slight decline, according to data published by the National Bank.
5 May 2025AZERBAIJAN: The market rises 17.3% in January-February
In January-February 2025, GWP of 16 insurance companies operating in Azerbaijan amounted to AZN 281.20 million (~EUR 158.87 million), which is 17.3% more y-o-y, ABC.AZ writes with reference to the Central Bank.
8 April 2025
