Azerbaijan

Location:
Southwestern Asia, bordering the Caspian Sea, between Iran and Russia, with a small European portion north of the Caucasus range

Climate:
dry, semiarid steppe

Natural hazards:
Droughts




Currency: Manat (AZN)

1 EUR = 0.9522 Manat - AZN (December 31st, 2014)
1 EUR = 1.0780 Manat - AZN (December 31st, 2013)
1 EUR = 1.0377 Manat - AZN (December 31st, 2012)
1 EUR = 1.0178 Manat - AZN (December 31st, 2011)
1 EUR = 1.0560 Manat - AZN (December 31st, 2010)

Sources:
Central Bank of Azerbaijan Republic
Ministry of Finance of Republic of Azerbaijan
Azerbaijan Insurers Association (AIA)
Compulsory Insurance Bureau (CIB)

Insurance statistics

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1H2014Insurance market overview pdf
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FY2013Insurance market overview pdf
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1H2013
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FY2012Insurance market overview pdf
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FY2011Insurance market overview pdf
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1H2011Insurance market overviewpdf
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2010Insurance market overviewpdf
2010Market portfolio and rankingsxls
1H2010Azer insurance market overviewpdf
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankings (total & main lines)xls

1H2017 Market Portfolio

1H2017 Insurance Companies Rankings

AZERBAIJAN: License of Alfa Insurance revoked

Azerbaijan's Financial Market Supervisory Body (FMSB) has revoked the license of Alfa Insurance company, the authority reported. The license was abolished by the relevant decision of FMSB's board of directors.

AZERBAIJAN: Another company may insure cars abroad

Azerbaijani Gunay Insurance company has been included in the register of insurers that can operate within the Green Card system, the Compulsory Insurance Bureau of Azerbaijan said. Green Card system was launched in Azerbaijan in 2016. Some 14 insurance companies have the joined the system in the country.

Brian TRACY in Baku, Azerbaijan!

On October, 31 2016 Brucke GmbH will hold a Business Seminar of the year with a legendary Brian TRACY in Baku, Azerbaijan. The topic of the program is "How The Most Successful Managers Grow Their Business in Any Market?"

AZERBAIJAN begins compensating within Green Card system

Azerbaijan's accession to international system Green Card starts increasing the loss ratio of compulsory motor insurance in the country. The Compulsory Insurers Bureau informs that in July Azerbaijan paid compensations for 6,323 manat on two insurance cases occurred in Turkey within the Green Card system.

AZERBAIJAN: New appointments at Pasha Life insurance company

Lala Jafarova and Rustam Mammadov have become members of the Management Board at Azerbaijani insurance company Pasha Life. The company's Management Board, which is headed by Mursal Rustamov, also includes First Deputy Chairman Niyaz Ismayilov and Deputy Chairman Dilara Babayeva, according to the message posted on Pasha Life's website.

AZERBAIJANI insurers still wait launch of automatic fining

The insurance sector of Azerbaijan still hopes for external forces to avoid its failure in the field of compulsory liability insurance of motor vehicle owners. Market source say that the unprofitability of this type of insurance goes through the roof.