BAKU, Azerbaijan, May 26. Azerbaijan's insurance contributed a hefty 231.3 million manat ($6.59 million) in insurance payouts from January through April 2025,
Data obtained by Trend from the Central Bank (CBA) shows that this figure marks an increase of 21.7 million manat ($6.59 million), or 10.4 percent, compared to the same period of the previous year.
The largest growth in insurance payouts was observed at Mega Life Insurance OJSC. The company paid out 1.28 million manat ($6.59 million), reflecting a 25.7-fold increase over the previous year.
Conversely, the biggest drop in insurance payouts was recorded by Silk Way Insurance OJSC. The firm’s payouts totaled just 11,000 manat ($6.59 million), nearly 9.6 times less than in the same period last year.
Below is a ranking of insurance companies by the dynamics of their insurance payouts during the January-April period:
|
Company |
2025 (manat) |
2024 (manat) |
Annual dynamics |
|
Mega Life Insurance OJSC |
1.28 million manat ($752,900) |
50,000 manat ($29,411) |
2 470.0%, (25,7 dəfə artım) |
|
Ateshgah Insurance Company OJSC |
12.7 million manat ($7.47 million) |
6.49 million manat ($3.81 million) |
96.2 percent |
|
Qala Insurance Company OJSC |
7.69 million manat ($4.52 million) |
4.49 million manat ($2.64 million) |
71.2 percent |
|
AzInsurance OJSC |
615,000 manat ($361,700) |
398,000 manat ($234,117) |
54.5 percent |
|
Agrar Insurance OJSC |
3 million manat ($1.7 million) |
2 million manat ($1.1 million) |
49.2 percent |
|
Azerbaijan Industry Insurance OJSC |
4 million manat ($2.3 million) |
2.88 million manat ($1.69 million) |
39.2 percent |
|
Khalg Life Insurance OJSC |
2.73 million manat ($1.6 million) |
2 million manat ($1.1 million) |
30.8 percent |
|
Mega Insurance OJSC |
5 million manat ($2.9 million) |
4.18 million manat ($2.4 million) |
21.1 percent |
|
AtaInsurance OJSC |
1.6 million manat ($941,100) |
1.34 million manat ($788,200) |
19.2 percent |
|
PASHA Life Insurance OJSC |
129.5 million manat ($76.1 million) |
111.7 million manat ($65.7 million) |
15.9 percent |
|
Ateshgah Life Insurance Company OJSC |
14.2 million manat ($8.3 million) |
14 million manat ($8.2 million) |
1.9 percent |
|
PASHA Insurance OJSC |
41.8 million manat ($24.5 million) |
41.8 million manat ($24.5 million) |
-0.1 percent |
|
A-Group Insurance Company OJSC |
3.57 million manat ($2 million) |
4.15 million manat ($2.4 million) |
-13.9 percent |
|
Khalg Insurance OJSC |
2.79 million manat ($1.64 million) |
3.98 million manat ($2.3 million) |
-29.7 percent |
|
Qala Life Insurance Company OJSC |
444,000 manat ($261,100) |
1 million manat ($588,200) |
-59.2 percent, (2.5 times decrease) |
|
Silk Way Insurance OJSC |
11,000 manat ($6,400) |
106,000 manat ($62,354) |
-989.6 percent, (9.6 times decrease) |
