Azerbaijan's voluntary insurance market grows 13%

In January–August 2026, insurance premiums totaling 901.903 million manats ($530.5 million) were collected from voluntary insurance lines in Azerbaijan, marking a 13% increase compared to the same period in 2025, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the reporting period, voluntary insurance payouts amounted to 662.491 million manats ($389.7 million), up 29.7% year-on-year.

As a result, insurers paid out 73.5 manats ($43.24) for every 100 manats ($58.82) of premiums collected in the voluntary insurance segment during the first eight months of the year. A year earlier, the figure stood at 64 manats ($37.65).

Overall, Azerbaijan's 16 insurance companies collected just over 1.115 billion manats (just over $656.1 million) in premiums across all insurance lines during the January-August period, up 6.4% year-on-year.

Insurance payouts reached 773.153 million manats ($454.8 million) over the same period, marking a 28.1% increase compared to the previous year.

Meanwhile, insurers paid out 69.3 manats ($40.76) for every 100 manats ($58.82) collected in premiums, up from 57.6 manats ($33.88) a year earlier.