The insurance sector of Azerbaijan recorded dynamic development in January-April 2025 as total GWP reached AZN 588.46 million (~EUR 304.90 million), ABC.AZ reports with reference to the Central Bank.

In the first four months of this year, Paşa Həyat Sığorta maintained its leading position on the market, collecting AZN 281.91 million. PASHA Sığorta ranks second (AZN 135.45 million), and Qala Sığorta is in third place with a huge gap from the first two leaders (AZN 41.07 million).

As ABC.AZ writes with reference to the monthly report of the Central Bank, the leader in terms of growth rates is Meqa Həyat Sığorta, total collected premiums of which increased by 85% y-o-y. Xalq Sığorta ranks second in terms of growth rates with a y-o-y increase of 29%, while Qala Həyat Sığorta (+22%) ranks third. Also, GWP of Azərbaycan Sənaye Sığorta increased by 22%.

In terms of claims paid for the first four months, Paşa Həyat Sığorta is the leader as well - for January-April 2025, the company paid out AZN 129.59 million. Paid claims of the second leader - Paşa Sığorta amounted to AZN 41.84 million. Atəşgah Group entered the top five with both its companies - Atəşgah Həyat paid out AZN 14.28 million, and Atəşgah – AZN 12.74 million.

*EUR 1 = AZN 1.93 (as of April 30, 2025)