Azerbaijani Central Bank reveals list of leading insurance firms

Pasha Life Insurance has maintained its leading position in Azerbaijan's insurance market in terms of premium collections and payouts for the period from January to May 2025, according to data released by the Central Bank.

The company collected insurance premiums amounting to 345.1 million manats ( $202.9 million), solidifying its top spot in the sector, Caliber.Az reports. 

Pasha Insurance followed in second place with 162.9 million manats ($95.9 million), while Ateshgah Life Insurance ranked third with 49.6 million manats ($29.2 million) in premiums.

Rounding out the top five were Qala Insurance, which collected 46.7 million manats ($27.5 million), and Ateshgah Insurance with 25.8 million manats ($15.2 million).

Together, these five insurers accounted for 87.6% of the total insurance premiums collected across the country during the first five months of the year.

Pasha Life Insurance also topped the list in terms of insurance payouts, disbursing 177.5 million manats ($104.4 million) over the same period. Pasha Insurance remained in second place with payouts totaling 55.8 million manats ($32.8 million), followed by Ateshgah Life Insurance with 22.2 million manats ($13.1 million).

Ateshgah Insurance and Qala Insurance took the fourth and fifth positions, paying out 16.6 million manats ($9.8 million) and 10.3 million manats ($6.1 million), respectively.

Collectively, these five companies were responsible for 89.7% of all insurance payouts made in Azerbaijan between January and May 2025.

By Sabina Mammadli