BAKU, Azerbaijan, May 26. Azerbaijan's insurance companies made insurance payments of 231.3 million manat ($136 million) from January through April 2025.
The data obtained by Trend from the Central Bank (CBA) shows that this figure grew by 21.7 million manat ($12.7 million), or 10.4 percent, compared to the same period in 2024 (209.6 million manat, or $123.3 million).
In the reporting period, the ranking on the volume of insurance payments was headed by PASHA Life Insurance OJSC with 129.6 million manat ($76 million).
The second position in the ranking was taken by PASHA Insurance OJSC with total payments amounting to 41.8 million manat ($24.6 million), and the third position was taken by Ateshgah Life Insurance (14.3 million manat or $8.4 million).
Total payments of all insurance companies in Azerbaijan in the first three months of this year are shown below.
|
Company |
Payments |
|
PASHA Life Insurance OJSC |
129.6 million manat ($76 million) |
|
PASHA Insurance OJSC |
41.8 million manat ($24.6 million) |
|
Ateshgah Life Insurance Company OJSC |
14.28 million manat ($8.4 million) |
|
Ateshgah Insurance Company OJSC |
12.7 million manat ($7.47 million) |
|
Qala Insurance Company OJSC |
7.7 million manat ($4.5 million) |
|
Mega Insurance OJSC |
5 million manat ($2.9 million) |
|
Azerbaijan Industry Insurance OJSC |
4 million manat ($2.3 million) |
|
A-Group Insurance Company OJSC |
3.57 million manat ($2 million) |
|
Agrar Insurance OJSC |
3 million manat ($1.7 million) |
|
Khalg Insurance OJSC |
2.8 million manat ($1.65 million) |
|
Khalg Life Insurance OJSC |
2.73 million manat ($1.6 million) |
|
AtaInsurance OJSC |
1.6 million manat ($940,000) |
|
Mega Life Insurance OJSC |
1.28 million manat ($750,000) |
|
AzInsurance OJSC |
615,000 manat ($361,760) |
|
Qala Life Insurance Company OJS |
444,000 manat ($261,180) |
|
Silk Way Insurance OJSC |
11,000 manat ($6,470) |
The CBA executes its mandate for state regulation and oversight within the insurance sector, as delineated in Article 95 of the Law of Azerbaijan “On Insurance Activities.” At present, 16 insurance entities are functioning within the jurisdiction of Azerbaijan.
