12:40 - 27.04.2026

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April 27, Fineko/abc.az. Azsığorta ASC completed the first quarter of 2026 with net profit of 275,000 manats (nearly 28.7% less versus Jan-Mar 2025 - over 386,000 manats of net profit).

ABC.AZ informs, referring to insurance company's report, that decrease in profits is linked mainly with a drop in overall revenues amid changes in net insurance reserves and decline of other income.

OVerall earnings of the insurer lowered by 5.7% year-on-year and amounted to 2.65 million manats. Against the background of declining revenues, the company was able to optimize costs: overall costs declined by 0.9% to 2.3 million manats versus Q1 of 2025.

The main share of expenses was made up of operating expenses in the amount of 1.64 million manats (a rise of 7.9% year-on-year).

The analysis of company's operating activities shows that accrued insurance premiums decreased slightly to 1.91 million manats. The main type of business, real estate insurance (with predominance of the mandatory segment), grew up to 1.74 million manats, but expenses increased at a faster pace.

As a result, the loss rate in this segment increased over the year from 94.98% to 108.18%, which is considered a high indicator. This means that while maintaining the current dynamics, the profitability of this sphere may continue to decline in the future.