BAKU, Azerbaijan, February 24. The total payments of insurance companies in Azerbaijan amounted to 47.6 million manat ($28 million) in January 2025, growing by 22.8 percent year on year.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that the company with the largest growth in insurance payments was Qala Insurance Open Joint Stock Company (OJSC) with 1.9 million manat, which means an increase of 160 percent (2.6 times) compared to the same month last year.
In January 2025, Silkway Insurance OJSC was the company with the highest decrease in insurance payments with a collection of 2,000 manat ($1,176) in insurance premiums, which is 33.5 times less than in the same month of 2024.
The ranking of companies for dynamics of insurance payments is shown below.
| Companies | January 2025 | January 2024 | Year-on-year dynamics, percent |
| Qala Insurance Company OJSC | 1.9 million manat ($1.1 million) | 719,000 manat ($422,940) | 160 |
| Azerbaijan Industry Insurance OJSC | 973,000 manat ($572,350) | 404,000 manat ($237,650) | 140.8 |
| Ateshgah Insurance Company OJSC | 2.7 million manat ($1.6 million) | 1.3 million manat ($760,000) | 106.1 |
| AzInsurance OJSC | 159,000 manat ($93,530) | 98,000 manat ($57,650) | 62.2 |
| PASHA Life Insurance OJSC | 25.6 million manat ($15 million) | 17.8 million manat ($10.5 million) | 43.7 |
| Mega Insurance OJSC | 1.17 million manat ($690,000) | 882,000 manat ($518,820) | 33.1 |
| AtaInsurance OJSC | 359,000 manat ($211,180) | 278,000 manat ($163,530) | 29.1 |
| Ateshgah Life Insurance Company OJSC | 3.7 million manat ($2.18 million) | 3.5 million manat ($2.06 million) | 6.8 |
| PASHA Insurance OJSC | 8.8 million manat ($5.18 million) | 8.5 million manat ($5 million) | 3.5 |
| Agrar Insurance OJSC | 907,000 manat ($533,530) | 877,000 manat ($515,880) | 3.4 |
| Mega Life Insurance OJSC | 22,000 manat ($12,940) | 30,000 manat ($17,650) | - 26.7 |
| Khalg Insurance OJSC | 605,000 manat ($355,880) | 910,000 manat ($535,290) | - 33.5 |
| A-Group Insurance Company OJSC | 568,000 manat ($237,654) | 899,000 manat ($528,820) | - 36.8 |
| Khalg Life Insurance OJSC | 40,000 manat ($23,530) | 254,000 manat ($149,410) | - 6.3 times |
| Silk Way Insurance OJSC | 2,000 manat ($1,180) | 67,000 manat ($39,410) | - 33.5 times |
