Insurance market grows 3.8% in January-March as payouts shrink

According to navigator.az, citing the Central Bank of Azerbaijan, 20 insurance companies in the country collected 258.425 million manats in insurance premiums in January-March this year. This is 3.8% more than in the same period last year.

At the same time, the amount of payouts made by insurance companies during the reporting period totalled 61.228 million manats, which is 2.4 times less year-on-year. As a result, out of every 100 manats of premiums collected over the three months, only 23.7 manats were paid out as claims. In the same period last year, this figure stood at 58.4 manats.

What the numbers show

The gap between growing premiums and sharply declining payouts stands out. On one hand, the market volume is expanding; on the other, the payout burden on companies has clearly eased. This could be linked to the number of insured events, risk profiles, or changes in contract structures, though the source material does not specify the exact reasons.

The practical takeaway for consumers is that when signing an insurance contract, it's important to look not only at the premium amount but also at the terms — which events are covered, payout procedures, and exclusions. Overall market growth alone does not guarantee the quality of an individual contract.

What Prayk's catalogue shows

Insurance costs are often relevant for car and property owners. Prayk's catalogue currently lists 50,337 listings in the Cars section, with a median asking price of 14,000 AZN. This gives a sense of the asset market that underpins premium calculations. There are also 27,954 listings for spare parts and accessories, reflecting the scale of the post-claim repair market.

On the real estate side, the Apartments category has 100,449 listings, with median sale prices in Baku at 275,000 AZN for new buildings and 178,000 AZN for older ones. For those considering property insurance, these figures help gauge the average market value of the asset.

What to do next

Car and apartment owners should review their current insurance contracts, checking payout terms and coverage scope. To assess the real market value of your asset, it's worth checking Prayk's cars and real estate sections. To track price changes, the prices section can be useful.

Source: navigator.az, 2026.