In January–August 2026, insurance companies in Azerbaijan collected AZN 1,115.4 million (~EUR 566 million) in premiums, a 6.4% increase y-o-y, the Central Bank reports.

The Central Bank of Azerbaijan (CBA) has been admitted as a member of the United Nations Development Programme (UN DP) Sustainable Insurance Forum (SIF), Trend reports, citing the CBA.

According to the Central Bank of Azerbaijan, insurance companies operating in the country collected premiums totaling AZN 1,006.4 million (~EUR 514.41 million) in January–July, which is 7.3% more y-o-y, according to Trend. Meanwhile, paid claims reached AZN 671.4 million, representing a y-o-y increase of 26.9%, the Central Bank stated.

The net profit of PASHA Life Insurance, the market leader by GWP, amounted to AZN 27.67 million (~EUR 14.29 million) in the first half of 2026, up 12.4% y-o-y, according to abc.az.

In 1H2026, the Azerbaijani insurance market totaled AZN 867.40 million (EUR 447.99 million), a 6.16% increase y-o-y, according to data published by the Central Bank of Azerbaijan. Total paid claims for the reporting period amounted to AZN 549.68 million (~EUR 283.90 million), representing a 27.18% y-o-y increase.

The net profit of Azerbaijani insurance companies in the second quarter of 2026 amounted to AZN 90.6 million (~EUR 46.71 million), which is 12% more y-o-y, according to Trend.

New reforms are being prepared in the Azerbaijani insurance market, as Executive Director of the Azerbaijan Insurers Association (AIA), Abas Miskarli said on the sidelines of the Azerbaijan International Insurance Forum (AIIF) 2026, held on 24-25 June in Baku.

Takaful (Islamic insurance) products could serve as a catalyst for deeper insurance adoption in Azerbaijan, according to the latest publication by the Islamic Development Bank Group, Trend reports.

From January to April of this year, life insurance in Azerbaijan totaled AZN 371.53 million (~EUR 187.64 million), which is 9.9% more y-o-y, Trend reports, citing the Central Bank of Azerbaijan.

In January-April of this year, voluntary insurance in Azerbaijan totaled AZN 518 million (~EUR 261.62 million), which is 14.6% more y-o-y, Trend reports, citing the Central Bank of Azerbaijan.

The introduction of a microinsurance model in Azerbaijan is scheduled to begin by 2030, which is reflected in the “State Program on expanding financial inclusion for 2027-2030” approved by the President of the Republic of Azerbaijan, Ilham Aliyev, Trend reports.

In January-April 2026, 16 insurance companies in Azerbaijan collected AZN 610.21 million (~EUR 308.19 million) in premiums, which represents a 4% increase y-o-y, ABC.AZ reports.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has provided insurance coverage in Azerbaijan totaling approximately USD 120 million over five years, according to Yasser Alaki, Director of the Business Development Department at ICIEC, Trend reports.

In the first quarter of 2026, the Azerbaijani insurance market amounted to AZN 417.75 million (EUR 214.25 million), which indicates a mere 4.68% increase y-o-y, according to data published by the Central Bank of Azerbaijan.

The insurance sector of Azerbaijan has entered a dynamic development phase in recent years, both in terms of structure and financial indicators. FY2025 data show that the market, in addition to having an already formed institutional framework, retains the potential for growth and deepening, Trend writes.