Pasa Həyat

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.

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

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

Keywords

• Life insurance services
• Endowment insurance
• Compulsory workplace insurance
• Critical illness coverage
• Corporate group life insurance

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Life Insurance Premiums: Recurring and one-time premium payments from various life insurance products including endowment, compulsory, corporate, credit life, and critical illness insurance
2. Investment Income: Returns from investing accumulated premiums, with 3% additional yield credited to endowment insurance customers upon contract expiration

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core 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

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Chenot Palace GabalaminorStrategic or Co-development Partner · 22 April 2026Partnership program announced in April 2026 offering exclusive benefits to PASHA Life customers at Chenot Palace Gabala wellness resort
• Baku City ResidencesminorStrategic or Co-development Partner · 17 March 2024Partnership agreement signed with Baku City Residences for providing insurance benefits to their customers/residents
• WebSummitminorGTM or Marketing Partner · 4 November 2022Participation in international WebSummit technology conference for innovation and networking
• TeknofestminorGTM or Marketing Partner · 25 May 2022Innovative partner sponsor of Teknofest Festival in Azerbaijan
• ADA UniversityminorStrategic or Co-development Partner · 21 June 2021Cooperation memorandum signed for potential collaboration in education, research, and student opportunities
• Sumqayıt FKminorGTM or Marketing Partner · 18 June 2020Official sponsor of Sumqayıt Football Club, supporting their debut in Europa League
• IRS Publishing House / Ministry of CultureminorStrategic or Co-development Partner · 16 December 2019Collaboration on cultural heritage project 'İRS' (Heritage) series - publishing books about Azerbaijan's cultural heritage, monuments, and traditions since 2013
• TÜV ThüringenminorOthersHolder of ISO 9001:2008 international certification from TÜV Thüringen
• Leading Reinsurance CompaniescoreOthersPartnerships with leading international reinsurance companies for managing insurance risks
• Azerbaijan Insurers Association (ASA)coreOthersMember of Azerbaijan Insurers Association for industry collaboration and standards

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Others

• 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

• YouTubeyoutube.com/channel/UCefcS2bG_DkaFUUi42MBtiA
• Facebookfacebook.com/pashalifeinsurance
• LinkedInlinkedin.com/company/pashalifeinsurance
• Instagraminstagram.com/pashalifeinsurance
• Xx.com/pasha_insurance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pasa Həyat