Foreign insurer entered Azerbaijani market first time in 5 years

An insurance company of Georgia has entered the Azerbaijani market.

Central Bank restores insurance agent licenses of 5 individuals

The Central Bank of Azerbaijan has restored licenses issued to 5 individuals for insurance agent activity

President signs a decree on liquidation of Azərsığorta

State commercial insurer Azərsığorta (Azerbaijan) has been liquidated.

Merger or voluntary liquidation of small insurers

It is not ruled out that small insurance companies in Azerbaijan will merge or voluntarily leave the market.

Goal of developing the institution of insurance agent set

The insurance sector will develop the institution of insurance agent.

Total insurance premium per capita to increase from 121 to 195 manats

The Central Bank's Financial Sector Development Strategy for 2024-26 has been adopted.

Insurers whose premiums declined by 14%

Insurance company A-Group has published the report on premiums and compensation payments for Jan-Dec 2023.

Azerbaijan reports growth on life insurance premiums

The life insurance premiums observe growth in Azerbaijan.

Voluntary insurance grows - Report

Voluntary insurance premiums and compensation payments observe growth in Azerbaijan.

This type of insurance increased by 50%

Azerbaijan observed growth on premiums and compensation payments on compulsory civil liability insurance of motor vehicle owners.

Mandatory insurance premiums increased more than by 37%

The premiums and compensation payments on compulsory insurance have increased in Azerbaijan.

In 2023, insurers increased premiums by 25.9%

Insurers with the least premiums for 2023

Compared with 2022, last year the insurance premiums of 5 out of 20 insurance companies in Azerbaijan decreased, and 15 ones increased.

Azərsığorta moves to another address

The head office of state commercial insurance company Azərsığorta has been moved to a new location.

Central Bank cancels licenses of 4 insurance mediators

A-Group’s insurance premiums drop for 11 months

Insurance company A-Qroup has published the report of on premiums and compensation payments for Jan-Nov 2023.

Ipek Yolu Sigorta premiums drop by 3.792 million manats

Ipek Yolu Sigorta has published the report on premiums and compensation payments for Jan-Nov 2023.

Azerkosmos selects insurer of Azerspace-1 satellite

Amount of CASCO insurance premiums for 11 months disclosed

Insurance companies of Azerbaijan collected 47.6 million manats of premiums on motor vehicle insurance (CASCO) for Jan-Nov 2023.

Premiums on insurance of motor vehicle owner’s civil liability decreased

Azerbaijan observed growth on the premiums and decline on compensation payments for civil liability insurance of vehicle owners.

Loss on driver’s civil liability insurance makes up 61%