Voluntary insurance market in Azerbaijan grew by over 15% in 10 months

In January-October 2025, 954.643 million manats (just over $561.5 million) in insurance premiums were collected for voluntary insurance types in Azerbaijan, a 15.1% year-on-year growth, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the mentioned period, payments for voluntary insurance types totaled 651.761 million manats (around $383.4 million), reflecting a 27.7% increase compared to the same period last year.

Consequently, 68.3 manats ($40.18) of every 100 manats ($58.82) collected from the voluntary insurance market were paid out in the first ten months of the year, compared to 61.5 manats ($36.18) during the same period in 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.