BAKU, Azerbaijan, April 25. Insurance companies in Azerbaijan collected a total of 399.1 million manat ($234.7 million) in insurance premiums from January through March 2025.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that this represents a 7 percent increase compared to the same period last year, or an additional 26 million manat ($15.2 million).
Meanwhile, insurance companies in Azerbaijan collected 373.1 million manat ($219.4 million) in premiums in the first quarter of 2024.
The company that collected the highest amount in insurance premiums during this period was Pasha Life Insurance OJSC (161.8 million manat ($95.1 million)). Pasha Insurance OJSC followed in second place with 114.9 million manat ($67.5 million) in premiums, and Ateshgah Life Insurance OJSC secured third place with 27.6 million manat ($16.2 million).
Below is the ranking of insurance companies based on their premium collections during the first quarter:
|
Company |
Premiums (in manat) |
|
PASHA Life Insurance OJSC |
161.8 million manat ($95.1 million) |
|
PASHA Insurance OJSC |
114.9 million manat ($67.5 million) |
|
Ateshgah Life Insurance Company OJSC |
27.6 million manat ($16.2 million) |
|
Qala Insurance Company OJSC |
25.1 million manat ($14.7 million) |
|
Ateshgah Insurance Company OJSC |
14.8 million manat ($8.7 million) |
|
Agrar Insurance OJSC |
8.8 million manat ($5.1 million) |
|
Azerbaijan Industry Insurance OJSC |
8.6 million manat ($5 million) |
|
Khalg Insurance OJSC |
7.6 million manat ($4.4 million) |
|
Mega Insurance OJSC |
7.5 million manat ($4.4 million) |
|
Qala Life Insurance Company OJSC |
6.5 million manat ($3.8 million) |
|
A-Group Insurance Company OJSC |
4.3 million manat ($2.5 million) |
|
Mega Life Insurance OJSC |
3.7 million manat ($2.1 million) |
|
Khalg Life Insurance OJSC |
2.5 million manat ($1.4 million) |
|
AtaInsurance OJSC |
2.4 million manat ($1.4 million) |
|
AzInsurance OJSC |
1.9 million manat ($1.1 million) |
|
Silk Way Insurance OJSC |
482,000 manat ($283,500) |