Azerbaijan sees nearly 7% growth in compulsory insurance market

In January-October 2025, 301.330 million manats ($177.2 million) of insurance premiums were collected in Azerbaijan through compulsory insurance types, marking a 6.5% growth year-on-year, Report informs, citing the Central Bank of Azerbaijan (CBA).

During this period, payments for compulsory insurance types amounted to 120.841 million manats (approximately $71.1 million), which is 7.8% more year-on-year.

Thus, in 10 months, payments of 40.1 manats ($23.59) were made for every 100 manats ($58.82) of insurance premiums collected from the compulsory insurance market. This figure stood at 39.6 manats ($23.29) in the same period of 2024.

Overall, 16 insurance companies in Azerbaijan collected insurance premiums totaling just under 1.256 billion manats ($738.8 million) in 10 months, marking a 12.9% year-on-year increase.