Voluntary insurance market in Azerbaijan expands by over 12%

In January–May of 2026, voluntary insurance premiums in Azerbaijan exceeded 614.5 million manats (just over $361.5 million), marking a 12.1% increase year-on-year, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the reporting period, payouts under voluntary insurance reached nearly 343.7 million manats (approximately $202.2 million) – 33.5% higher than a year earlier.

Thus, for every 100 manats ($58.82) collected in voluntary insurance premiums over five months, 55.9 manats ($32.88) were paid out in claims. A year earlier, this figure stood at 47 manats ($27.65).

Overall, Azerbaijan's 16 insurance companies collected over 732.6 million manats (approximately $431 million) in premiums in the first five months of 2026, up 1.85% compared to the same period in 2025.