BAKU, Azerbaijan, May 26. The insurance premium, ringing in at 588.5 million manat ($346 million), was raked in by insurance companies in Azerbaijan from January through April 2025.
The data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that this figure grew by 8.4 percent, or 45.7 million manat ($26.9 million), compared to the same period in 2024 (542.8 million manat or $319 million).
Furthermore, in the reporting period, the ranking on the volume of insurance premium collections was headed by PASHA Life Insurance OJSC with 281.9 million manat ($165.8 million).
The second position in the ranking was taken by PASHA Insurance OJSC with total premium collections amounting to 135.5 million manat ($79.7 million), and the third position by Qala Insurance OJSC (41 million manat or $24 million).
Total collections of all insurance companies in Azerbaijan in the reporting month are summarized below.
|
Company |
Collections |
|
PASHA Life Insurance OJSC |
281.9 million manat ($165.8 million) |
|
PASHA Insurance OJSC |
135.5 million manat ($79.7 million) |
|
Qala Insurance Company OJSC |
41 million manat ($24 million) |
|
Ateshgah Life Insurance Company OJSC |
38.29 million manat ($22.5 million) |
|
Ateshgah Insurance Company OJSC |
20.26 million manat ($11.9 million) |
|
Azerbaijan Industry Insurance OJSC |
11 million manat ($6.47 million) |
|
Mega Insurance OJSC |
10 million manat ($5.9 million) |
|
Khalg Insurance OJSC |
9.7 million manat ($5.7 million) |
|
Qala Life Insurance Company OJSC |
9.5 million manat ($5.6 million) |
|
Agrar Insurance OJSC |
9.4 million manat ($5.5 million) |
|
A-Group Insurance Company OJSC |
5.5 million manat ($3.2 million) |
|
Mega Life Insurance OJSC |
5 million manat ($2.9 million) |
|
AzInsurance OJSC |
3.4 million manat ($2 million) |
|
AtaInsurance OJSC |
3.3 million manat ($1.95 million) |
|
Khalg Life Insurance OJSC |
3.28 million manat ($1.9 million) |
|
Silk Way Insurance OJSC |
1 million manat ($590,000) |
To note, the Central Bank of the Republic of Azerbaijan executes its mandate for state regulation and oversight within the insurance sector, as delineated in Article 95 of the Law of the Republic of Azerbaijan “On Insurance Activities.” Currently, there exists a total of 16 insurance entities operating within the regulatory framework of Azerbaijan.
