Crop insurance market has tripled

Procedure of liquidation of Compulsory Insurance Bureau determined

Health insurance payments decreased in Azerbaijan

Azerbaijan records growth of compulsory real estate insurance

The premiums on compulsory real estate insurance in Azerbaijan amounted to AZN 56.1 million for Jan-Jun 2023

Growth recorded on insurers’ compensation payments

Insurance companies with lowered premiums

Life insurance premiums increased by 40.5%

Life insurance premiums have increased in Azerbaijan.

Xalq Sığorta cuts insurance premiums

Xalq Sığorta has published a report for Jan-Jun 2023.

Loss rate on voluntary insurance has grown slightly in Azerbaijan

Voluntary insurance premiums grew by 28%

Voluntary insurance premiums have increased in Azerbaijan.

New appointment at A-Qroup Sığorta

Mammad Atakishiyev has been appointed the chairman of board at A-Qroup Sığorta by the decision of insurance company’s shareholders.

Azərsığorta has included the branch of Nakhchivan Insurance Service into its structure

Central Bank revokes licenses of 4 more insurance agents

The Central Bank of Azerbaijan has cancelled the licenses for the activities of insurance agents to 4 individuals

Capitalization of insurance market still very small

Central Bank receives 90,000 complaints on insurance cases

During the year, the Central Bank of Azerbaijan receives 2,700-2,800 complaints from citizens on 90,000 insurance cases

Zahid Oruj: Share of Azerbaijan's insurance market in GDP is very low

In 2022, Azerbaijan's insurance market accounted for only 0.7% of GDP, ABC.AZ reports, quoting Center for Social Research’s head Zahid Oruj.

CBA forecasts growth of insurance market in 2023

The Central Bank of Azerbaijan (CBA) expects the insurance premiums to make up AZN 1.2-1.3 bn ($710 million – $760 million) at the end of 2023.

AzSigorta premiums decreased

Revenues on contributions to compulsory state social insurance increased

Central Bank suspends licenses of insurance broker

The Central Bank of Azerbaijan has suspended the licenses of an insurance broker issued to eight individuals and an insurance agent issued to 155 individuals and 21 legal entities for 3 months.

Licenses of 9 insurance mediators cancelled