BAKU, Azerbaijan, April 25. Insurance companies operating in Azerbaijan made payouts totaling 164 million manat ($96.4 million) from January through March 2025.
Data obtained by Trend from the Central Bank (CBA) indicates that this marks an increase of 10.7 million manat ($6.2 million), or seven percent, compared to the same period last year.
The company with the most significant increase in insurance payouts was Mega Life Insurance OJSC.
The company paid out 706,000 manat ($415,311), which represents a 17.6-fold increase year-on-year.
Conversely, the company with the steepest decline in payouts was Silk Way Insurance OJSC. It paid only 11,000 manat ($6,470), a drop by a factor of 6.5-fold compared to the previous year.
Below is the ranking of insurance companies based on the dynamics of their payouts from January through March.
|
Company |
January-March, 2025 (in manat) |
January-March, 2024 (in manat) |
Annual dynamics, % |
|
Mega Life Insurance OJSC |
706,000 manat ($415,311) |
40,000 manat ($23,529) |
1,665 (17.6 times) |
|
Ateshgah Insurance Company OJSC |
8,398 manat ($4,940) |
4,525 manat ($2,661) |
85,6 |
|
Qala Insurance Company OJSC |
5,170 manat ($3,041) |
3,003 manat ($1,766) |
72,2 |
|
AzInsurance OJSC |
419,000 manat ($246,472) |
313,000 manat ($184,118) |
33,9 |
|
Azerbaijan Industry Insurance OJSC |
2,785 manat ($1,638) |
2,115 manat ($1,244) |
31,7 |
|
Khalg Life Insurance OJSC |
2,311 manat ($1,359.) |
1,857 manat ($1,092) |
24,5 |
|
Mega Insurance OJSC |
3,428 manat ($2,016) |
2,952 manat ($1,736) |
16,1 |
|
Ateshgah Life Insurance Company OJSC |
8,201 manat ($4,824) |
7,248 manat ($4,263) |
13,1 |
|
PASHA Life Insurance OJSC |
98,110 manat ($57,711) |
87,012 manat ($51,183) |
12,8 |
|
AtaInsurance OJSC |
1,074 manat ($631.7) |
983,000 manat ($578,237) |
9,3 |
|
PASHA Insurance OJSC |
27,676 manat ($16,280) |
28,106 manat ($16,532) |
-1,5 |
|
Agrar Insurance OJSC |
1,320 manat ($776.4) |
1,752 manat ($1,030) |
-24,7 |
|
A-Group Insurance Company OJSC |
2,420 manat ($1,423) |
3,261 manat ($1,918) |
-25,8 |
|
Khalg Insurance OJSC |
1,808 manat ($1,063) |
3,017 manat ($1,774) |
-40 |
|
Qala Life Insurance Company OJSC |
192,000 manat ($112,942) |
1,011 manat ($594.7) |
-81,0 (5,3 fold) |
|
Silk Way Insurance OJSC |
11,000 manat ($6,470) |
72,000 manat ($42,352) |
-84,7 (6.5 fold) |