Pasa Həyat
PASHA Life Insurance OJSC is an Azerbaijan-based life insurance carrier owned by PASHA Holding, offering endowment, compulsory, corporate, and critical illness coverage through a digital platform (mylife.az), mobile app, and direct enterprise sales to retail and corporate customers.
- Company typePrivate
- Founded2010
- HeadquartersBaku, Azerbaijan
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Pasa Həyat does
PASHA Life Insurance OJSC (Pasa Həyat) is an Azerbaijan-domiciled life insurance carrier founded in 2010 and licensed by the Ministry of Finance in February 2011. The company is wholly owned by PASHA Holding LLC, one of Azerbaijan's largest diversified financial conglomerates, and is registered as an Open Joint Stock Company with authorized capital of 40.25 million AZN. It operates exclusively within Azerbaijan and offers a portfolio of seven life insurance products: endowment insurance (savings-linked life coverage), compulsory workplace life insurance, corporate life insurance, children's critical illness coverage, "Hold on to Life" critical illness protection, "100x Insurance" accelerated-benefit coverage for specified severe illnesses, and credit life insurance for consumer loan borrowers.
The company runs a digital-first distribution model anchored by the mylife.az self-service platform and mobile application for iOS and Android, supplemented by a 942 contact center, WhatsApp support, and a direct corporate sales team. Online contract execution is enabled via ASAN Imza (Azerbaijan's national digital signature infrastructure), and premium payments are processed through hesab.az. PASHA Life integrates with the Compulsory Insurance Bureau (ISB) for mandatory workplace coverage and was the first insurance company in the CIS region to transition to IFRS 17 accounting standards in March 2024. The technology stack is conventional digital insurance infrastructure with no disclosed AI/ML capabilities.
Revenue is generated through recurring and one-time life insurance premiums and investment income on accumulated policy reserves; in 2021 the company collected 313 million AZN in premiums and paid out 189 million AZN in claims, served 25,000+ active endowment customers, and employed 308 staff. The customer base spans individual retail customers (endowment savings, critical illness, credit life), employers (compulsory and corporate coverage), and consumer loan borrowers, with named enterprise clients including Caspian Drilling Company, PMD/Expressbank, and Azercell.
Pasa Həyat firmographics
Firmographics- Name
- Pasa Həyat
- Legal name
- PASHA Life Insurance OJSC
- Website
- https://pasha-life.az
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- PASHA Life Insurance OJSC is an Azerbaijan-based life insurance carrier owned by PASHA Holding, offering endowment, compulsory, corporate, and critical illness coverage through a digital platform (mylife.az), mobile app, and direct enterprise sales to retail and corporate customers.
- Ownership category
- akta.pro rank
Pasa Həyat industry classification
Industry- Product category
- Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113)
- SIC
- Life Insurance (6311)
- akta.pro primary industry
- Whole Life Insurance (FSAIABAA)
Keywords
Where Pasa Həyat is headquartered
LocationHeadquarters
- HQ city
- Baku
- HQ country
- Azerbaijan
- HQ region
- Asia
Offices2 records
Markets served
Pasa Həyat business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Life Insurance Premiums: Recurring and one-time premium payments from various life insurance products including endowment, compulsory, corporate, credit life, and critical illness insurance
- Investment Income: Returns from investing accumulated premiums, with 3% additional yield credited to endowment insurance customers upon contract expiration
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Endowment Insurance - contribution-based savings with life insurance |
| One time/ perpetual license | Pay-as-you-go | Life Insurance for Children - critical illness coverage |
| One time/ perpetual license | Annual | 100x Insurance - critical illness coverage |
| Subscription | Annual | Hold on to Life - critical illness lump sum |
| Subscription | Annual | Compulsory Life Insurance - employer-mandated coverage |
| One time/ perpetual license | Pay-as-you-go | Credit Life Insurance - borrower protection |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Pasa Həyat product offering
Product offeringCore offering
Pasa Həyat is a licensed life insurance provider in Azerbaijan that sells endowment insurance combining savings and life coverage, compulsory workplace life insurance, corporate group life insurance for employers, children's critical illness coverage, individual critical illness insurance, and credit life insurance for consumer loan borrowers. The company distributes policies through a digital platform (mylife.az personal cabinet), iOS/Android mobile applications, a 942 contact center, WhatsApp support, and a direct corporate sales force, serving both individual retail customers and enterprise clients.
Product overview
PASHA Life is a life insurance company offering a comprehensive portfolio of 7 distinct insurance products. The core offerings include Endowment Insurance (savings with life coverage), Compulsory Life Insurance (mandatory workplace coverage), and Corporate Life Insurance (employer-sponsored protection). Additional specialized products include Children's Life Insurance, Critical Illness coverage (Hold on to Life), 100x accelerated benefit insurance, and Credit Life Insurance for borrowers. The company operates as part of PASHA Holding Group with authorized capital of 40,250 million AZN, holding a life insurance license since 2011.
Differentiator
Problem solved
Functional benefit
Products and services
- Həyatın Yaşam Sığortası (Endowment Insurance) A savings and investment product bundled with life insurance coverage, available to formally employed individuals in Azerbaijan. Customers contribute up to 45% of gross salary monthly; after three years the full accumulated amount plus taxes and Social Protection Fund payments is returned along with an additional 3% investment yield, while life insurance coverage remains in force for the entire contract period.
- İcbari Həyat Sığortası (Compulsory Life Insurance) Statutory workplace accident insurance required of Azerbaijani employers to cover employees against death from industrial accidents or occupational diseases, and loss of work ability. Servants are charged 0.2%-0.5% of annual salary fund and workers 0.4%-2.0% of annual salary fund.
- Korporativ Həyat Sığortası (Corporate Life Insurance) Employer-sponsored voluntary life insurance plan that protects employees against death, disability groups I/II/III, and up to 20 critical illnesses, with 24/7 worldwide coverage. Designed for Azerbaijani employers seeking employee benefit programs.
- Uşaqlar üçün Həyat Sığortası (Life Insurance for Children) Critical illness insurance for children aged 0-18 providing 15,000 AZN of coverage for a one-time payment of 30 AZN over a three-year period. Covers cancer, kidney failure, paralysis, and major organ transplant.
- Həyata bağlan (Hold on to Life) Critical illness insurance for adults covering cancer, stroke, myocardial infarction, kidney failure, paralysis, and coronary artery bypass grafting. A 30-year-old can obtain 30,000 AZN of coverage for 144 AZN per year with installment payment options available.
- 100 Qat Sığorta (100x Insurance) Incurable diseases insurance providing 2,000 AZN sum insured for an annual premium of 20 AZN. Covers cancer (stage 4), leukemia, lymphoma, stroke, heart attack, coronary bypass, kidney failure, paralysis, and major organ transplant.
- Kredit Həyat Sığortası (Credit Life Insurance) Loan borrower insurance covering death and disability with 31-100% loss of bodily function impairment for consumer loan holders. Insurance amount equals the remaining loan balance and the policy is structured as a one-time payment based on company tariffs. Available for loan amounts of 1-150,000 AZN and terms of 2-59 months.
Quantifiable outcome
- 313 million AZN insurance premiums collected in 2021
- +3 more outcomes
Companies that use Pasa Həyat
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Pasa Həyat technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Pasa Həyat partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- Chenot Palace GabalaminorPartnership program announced in April 2026 offering exclusive benefits to PASHA Life customers at Chenot Palace Gabala wellness resort
- Baku City ResidencesminorPartnership agreement signed with Baku City Residences for providing insurance benefits to their customers/residents
- WebSummitminorParticipation in international WebSummit technology conference for innovation and networking
- TeknofestminorInnovative partner sponsor of Teknofest Festival in Azerbaijan
- ADA UniversityminorCooperation memorandum signed for potential collaboration in education, research, and student opportunities
- Sumqayıt FKminorOfficial sponsor of Sumqayıt Football Club, supporting their debut in Europa League
- IRS Publishing House / Ministry of CultureminorCollaboration on cultural heritage project 'İRS' (Heritage) series - publishing books about Azerbaijan's cultural heritage, monuments, and traditions since 2013
- TÜV ThüringenminorHolder of ISO 9001:2008 international certification from TÜV Thüringen
- Leading Reinsurance CompaniescorePartnerships with leading international reinsurance companies for managing insurance risks
- Azerbaijan Insurers Association (ASA)coreMember of Azerbaijan Insurers Association for industry collaboration and standards
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Pasa Həyat competitors and assessment
Company assessmentOthers
- Kapital Bank: Azerbaijan's largest retail bank and a PASHA Holding affiliate. Comparable as a distribution and ecosystem partner whose customer base and salary-fund infrastructure channel compulsory and corporate life insurance products to PASHA Life.
Broad incumbents
- AXA: Global insurance leader with strong life and savings, health, and corporate lines. Comparable as a broad incumbent whose life-insurance operating model and digital distribution approach benchmark PASHA Life's aspirations.
- MetLife: Global life insurance leader with operations across the CIS and emerging markets. Comparable as a benchmark for life-product design, actuarial practices, and capital management that PASHA Life is positioning toward via IFRS 17 adoption.
- Manulife: Global life insurer with material operations in Asia and emerging markets. Comparable as a reference point for endowment-style savings products, IFRS 17 reporting, and bancassurance distribution that PASHA Life is emulating.
- Allianz Life: Global life and health insurance division of Allianz Group, active in CIS markets. Comparable because it operates internationally with embedded savings-plus-protection life products similar to PASHA Life's endowment offering.
Direct peers
- Ata Sigorta: Azerbaijani insurance carrier offering life and general insurance to retail and corporate customers. Comparable as a domestic peer competing for the same employers, employees, and savings-linked life products.
- PASHA Insurance: Sister company under PASHA Holding that provides non-life (property & casualty) insurance in Azerbaijan. Directly comparable because it operates in the same domestic market under the same parent brand and frequently shares corporate clients such as Azercell.
- AzSigorta: One of the largest Azerbaijani insurance companies offering both life and non-life products. Directly comparable as a domestic competitor pursuing enterprise and individual customers in the same regulatory and macroeconomic environment.
Regional players
- Halyk Life: Life insurer affiliated with Halyk Bank in Kazakhstan. Comparable as a CIS-region bancassurance-driven life carrier operating in an emerging-market, FX-sensitive, post-Soviet regulatory context similar to Azerbaijan.
- State Insurance Company of Azerbaijan Republic: State-owned Azerbaijani insurer handling large state-affiliated and compulsory insurance portfolios. Comparable because it shares the same AZN-denominated regulatory regime and frequently underwrites the same compulsory life and corporate policies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Pasa Həyat social profiles
Digital presencePasa Həyat compliance and trust
Trust signalCompliance4 records
Pasa Həyat financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pasa Həyat leadership team
Management profileNumber of profiles
Profiles13 records
Pasa Həyat funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pasa Həyat M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pasa Həyat
What does Pasa Həyat do?
Pasa Həyat is a licensed life insurance provider in Azerbaijan that sells endowment insurance combining savings and life coverage, compulsory workplace life insurance, corporate group life insurance for employers, children's critical illness coverage, individual critical illness insurance, and credit life insurance for consumer loan borrowers. The company distributes policies through a digital platform (mylife.az personal cabinet), iOS/Android mobile applications, a 942 contact center, WhatsApp support, and a direct corporate sales force, serving both individual retail customers and enterprise clients.
Is Pasa Həyat a public or private company?
Pasa Həyat is a private company. It is classified as corporate owned and is currently operating.
When was Pasa Həyat founded?
Pasa Həyat was founded in 2010. It employs 251 to 500 people.
Where is Pasa Həyat based?
Pasa Həyat is headquartered in Baku, Azerbaijan, in the Asia region.
How does Pasa Həyat make money?
Two revenue lines are on record. Life Insurance Premiums are the primary driver. The others are investment Income.
Who are Pasa Həyat's main competitors?
Kapital Bank is listed as an others. Broad incumbents are AXA, MetLife, Manulife and Allianz Life. Direct peers are Ata Sigorta, PASHA Insurance and AzSigorta. Regional players are Halyk Life and State Insurance Company of Azerbaijan Republic.
Does Pasa Həyat have an API?
No public API is recorded for Pasa Həyat.
What industry is Pasa Həyat in?
Pasa Həyat's product category is Life Insurance. Its primary akta.pro industry code is FSAIABAA, Whole Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.