Ranking of Azerbaijani insurance companies by expenses in 1Q2026

№

Insurance companies

Expenses

(million manats)

Dynamics

1

PASHA Life Insurance

141.523

28.2%

2

PASHA Insurance

77.925

29.9%

3

Ateshgah Life Insurance

24.396

2.2 times

4

Gala Insurance

17.156

-14.1%

5

Ateshgah Insurance

15.439

2.5%

6

Azerbaijan Industrial Insurance

9.090

29.3%

7

Mega Insurance

7.415

12.3%

8

Silkway Insurance

6.379

-8.9%

9

Xalq Insurance

5.936

16.1%

10

A-Group Insurance

4.984

8.8%

11

Gala Life Insurance

4.642

34.6%

12

Xalq Life Insurance

3.560

2.8%

13

Mega Life Insurance

2.867

17.8%

14

Azinsurance

2.307

-0.9%

15

Agro Insurance

Did not declare

Did not declare