Azerbaijan
AZERBAIJAN: Azerbaijan has significant opportunities to increase insurance penetration
New reforms are being prepared in the Azerbaijani insurance market, as Executive Director of the Azerbaijan Insurers Association (AIA), Abas Miskarli said on the sidelines of the Azerbaijan International Insurance Forum (AIIF) 2026, held on 24-25 June in Baku.
29 June 2026AZERBAIJAN: Takaful could facilitate wider penetration of insurance services
Takaful (Islamic insurance) products could serve as a catalyst for deeper insurance adoption in Azerbaijan, according to the latest publication by the Islamic Development Bank Group, Trend reports.
22 June 2026AZERBAIJAN: Life insurance rose by nearly 10% from January to April
From January to April of this year, life insurance in Azerbaijan totaled AZN 371.53 million (~EUR 187.64 million), which is 9.9% more y-o-y, Trend reports, citing the Central Bank of Azerbaijan.
17 June 2026AZERBAIJAN: Voluntary insurance rises by 14.6% in January-April, while mandatory drops by 32.5%
In January-April of this year, voluntary insurance in Azerbaijan totaled AZN 518 million (~EUR 261.62 million), which is 14.6% more y-o-y, Trend reports, citing the Central Bank of Azerbaijan.
8 June 2026AZERBAIJAN: New targets for insurance sector development through 2030
The introduction of a microinsurance model in Azerbaijan is scheduled to begin by 2030, which is reflected in the “State Program on expanding financial inclusion for 2027-2030” approved by the President of the Republic of Azerbaijan, Ilham Aliyev, Trend reports.
2 June 2026AZERBAIJAN: Market rises 4% in January-April
In January-April 2026, 16 insurance companies in Azerbaijan collected AZN 610.21 million (~EUR 308.19 million) in premiums, which represents a 4% increase y-o-y, ABC.AZ reports.
28 May 2026AZERBAIJAN: 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 2026
