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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

Azerbaijan has published a report on the complaint index for compulsory motor insurance for the period from March 2024 to February 2025. According to the Central Bank, the highest complaint index among insurance companies belongs to one of the market leaders - PAŞA Sığorta.

In January 2025, voluntary insurance in Azerbaijan amounted to AZN 140.6 million (~EUR 79.43 million), Trend writes with reference to the Central Bank of Azerbaijan. According to the Central Bank, this is AZN 22.3 million, or 18.9% more y-o-y.

According to the Chairman of the Board of the Agricultural Insurance Fund of Azerbaijan Fuad Sadigov, the insurance service is readily accessible to 96% of the crop areas in Azerbaijan.

Azerbaijan's GWP for agricultural livestock reached AZN 2.1 million (~EUR 1.18 million) in 2024. According to the Central Bank of Azerbaijan, this indicates a decrease of AZN 1.8 million or about 46.7% y-o-y, Trend reports.

In 2024, 468 Green Card insurance cases were recorded in Azerbaijan, and the total amount of payments reached AZN 2.5 million (~EUR 1.41 million), as stated by the Chief Information Manager of the Compulsory Insurance Bureau (CIB) Anar Samedov during his speech at the Azerbaijan Financial Forum, Trend writes.

In 2024, health insurance GWP collected by insurance companies operating in Azerbaijan reached AZN 123.1 million (EUR 69.45 million), Trend writes with reference to the Central Bank of Azerbaijan.

The insurance market of Azerbaijan grew by 10.69% in 2024, reaching AZN 1.35 billion (EUR 763.48 million). The growth driver is life insurance, which increased by 16.65% and generated over 54% of all premiums, according to statistics published by the National Bank.

In 2024, revenues from mandatory state social insurance contributions in Azerbaijan exceeded AZN 5.76 billion (~EUR 3.25 billion), which is 10.9% or AZN 566.5 million more than in 2023, Trend reports.

Life insurance in Azerbaijan amounted to AZN 79.3 million (~EUR 44.13 million) in January-November 2024. According to the Central Bank, this is AZN 5.2 million, or 7% more y-o-y, Trend writes.