Aqrar Sığorta Fondu

What Aqrar Sığorta Fondu does

Aqrar Sığorta Fondu (Agricultural Insurance Fund) is a non-commercial state legal entity established in Azerbaijan on August 19, 2019 by Presidential Decree No. 809 under Law No. 1617-VQ. It operates the country's agricultural insurance system under a public-private partnership model in which the fund bears insurance risk and pays claims, while licensed non-life insurance companies (Paşa, Qala, Xalq, Mega, Azsığorta, Azərbaycan Sənaye) act as intermediaries to originate and service policies with farmers. The mechanism is funded jointly by farmer premiums and a 50% state subsidy, with crops, livestock, and aquaculture eligible across 41 crop types and 30+ risk categories covering 96% of Azerbaijan's plantings.

The fund's core technology asset is ASİS (Aqrar Sığorta İnformasiya Sistemi) — a government information system with 11 integrated modules covering electronic policy administration, claims handling, risk assessment, expert appointment, finance, complaints, and reporting. ASİS was developed with World Bank ACIP support and direct technical guidance from Turkey's TARSİM, and integrates with the EKTİS national agricultural registry and the ASAN Pay mobile payment network. The fund supplements the platform with two online premium calculators (crop and livestock) and a 1651 call center for farmer support.

As of 2025, the fund had insured ~386,000 hectares of farmland and 7,000 livestock heads, paying out a cumulative ~23 million AZN in claims (19.5 million AZN for crops, 3.5 million AZN for livestock). It targets 1 million insured hectares and 100,000 insured livestock heads by 2030 under a State Program approved by Presidential Decree. Geographic operations are nationwide across 35+ regions including Nakhchivan, with nascent international engagement via knowledge-transfer discussions with Uzbekistan's equivalent fund.

Name

Aqrar Sığorta Fondu

Legal name

Aqrar Sığorta Fondu

Website

https://asf.gov.az

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Aqrar Sığorta Fondu is Azerbaijan's state-established non-commercial agricultural insurance fund, operating since 2019 under Presidential Decree No. 809 to provide 50%-subsidized crop, livestock, and aquaculture insurance to smallholder and SMB farmers nationwide through licensed non-life insurers and the ASİS digital platform.

Ownership category

akta.pro rank

Product category

Agricultural Insurance

NAICS

Other Insurance Funds (525190), Other Insurance Funds (52519), Insurance and Employee Benefit Funds (5251)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

Keywords

• Agricultural insurance
• Crop insurance
• Livestock insurance
• Aquaculture insurance
• Subsidized insurance

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Agricultural Insurance Premiums: The fund operates as a non-profit government legal entity established by presidential decree. Revenue comes from insurance premiums paid by farmers (50% of the premium) and government budget subsidies (remaining 50%). The fund bears insurance risk and makes insurance payments to policyholders.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Aqrar Sığorta Fondu is a state-established non-commercial fund that provides subsidized agricultural insurance to Azerbaijani farmers and agribusinesses across three product lines — crop insurance, livestock insurance, and aquaculture insurance. Premiums are split 50/50 between the farmer and the state budget, with policies issued through licensed intermediary insurers and serviced via the ASİS electronic platform. The fund bears the insurance risk and processes claims nationwide across 35 regions.

Product overview

Aqrar Sığorta Fondu operates as a state-supported agricultural insurance mechanism built around its core Aqrar Sığorta İnformasiya Sistemi (ASİS) platform, which provides the electronic infrastructure for conducting agricultural insurance activities. The fund offers three primary insurance products: Heyvandarlıq Sığortası (Livestock Insurance) covering cattle and small horned animals, Bitkiçilik Sığortası (Crop Insurance) covering 41 types of agricultural plants, and Akvakultura Sığortası (Aquaculture Insurance) covering fish products. These core products are complemented by two digital tools—the Bitkiçilik Kalkulyatoru and Heyvandarlıq Kalkulyatoru—that enable farmers to calculate insurance premiums online. The system operates on a public-private partnership model where the fund bears risks and makes insurance payments while the İdarəedici Qurum (Managing Company) organizes contract signing through insurance companies.

Differentiator

Problem solved

Functional benefit

Brands

• ASİS: Aqrar Sığorta İnformasiya Sistemi - the electronic government information system for agricultural insurance operations

Products and services

• Heyvandarlıq Sığortası (Livestock Insurance) Insurance coverage for agricultural livestock including dairy and meat cattle (large ruminants) and small horned animals (sheep and goats), protecting against infectious diseases, natural disasters, wildfire, wild animal attacks, and third-party actions. Premium example: 24–39 AZN/year for 1,000 AZN cattle; 7–11 AZN/year for 300 AZN sheep/goat. Deductible is 10% of animal value; payout is 90% of value.
• Bitkiçilik Sığortası (Crop / Plant Insurance) Insurance coverage for crop products including wheat, barley, corn, potatoes, fruits, vegetables, and 41 types of agricultural plants, protecting against hail, storms, floods, fire, frost, and other natural risks. Premium is calculated as crop area × yield × product price × regional tariff; example: 1 hectare wheat in Shaki-Zagatala costs ~40 AZN farmer share after 50% government subsidy. The 41 covered crop types represent 96% of all plantings in Azerbaijan.
• Akvakultura Sığortası (Aquaculture Insurance) Insurance coverage for fish and aquaculture products, protecting against mass poisoning, natural disasters, wild animal attacks, fire, and third-party actions. Designed for fish farming enterprises and fisheries cultivating aquatic species in Azerbaijan.

Quantifiable outcome

• Farmers receive up to 57x the premium paid in insurance payouts (example: 151 AZN premium → 8,598 AZN payout)
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Naxçıvan Dövlət Universiteti (Nakhchivan State University)coreStrategic or Co-development Partner · 22 June 2026A Cooperation Memorandum of Understanding was signed between Aqrar Sığorta Fondu and Nakhchivan State University on June 22, 2026. The partnership aims to strengthen awareness in agricultural insurance, develop professional human resources, improve students' practical knowledge, and expand connections between education and the agricultural insurance sector. The MOU covers organizing certified internship programs, 2–3 month internship programs, job placement support for graduates, joint training and seminars, and joint research projects.
• Azərbaycan Fotoqrafları Birliyi (Azerbaijan Photojournalists Union)minorGTM or Marketing Partner · 15 June 2026Joint organizer of the 'Agriculture in Azerbaijan' photo competition running from June 15 to September 30, 2026. The competition aims to raise public awareness of agriculture, agricultural professions, and the fund's role in protecting farmers.
• Özbəkistan Kənd Təsərrüfatı Sığorta Fondu (Uzbekistan Agricultural Insurance Fund)minorStrategic or Co-development Partner · 15 May 2026Meeting held during Caspian Agro Week 2026 in Baku. Uzbekistan Agricultural Insurance Fund expressed interest in adopting Azerbaijan's agricultural insurance model. Discussions covered claims investigation processes, expert certification, and system design. This represents international knowledge transfer and potential future bilateral cooperation.
• TARSİM (Turkish State Agrarian Insurance Company)coreTechnology or Integration · 17 July 2020TARSİM provided direct guidance and support for setting up the Agricultural Insurance Information System (ASİS). Turkish specialists supervised the AIIS development process, including its 11 modules for automating insurance contract conclusion, claims handling, risk assessment, and expert appointment. The system design was modeled on TARSİM's proven agricultural insurance framework.
• Aqrar Sığorta Müştərək Sığorta Şirkəti ASCcoreChannel Partner/ Reseller/ DistributorThe Managing Entity is the joint-stock company formed by all non-life insurance companies operating in Azerbaijan (Paşa Sığorta ASC, Qala Sığorta, Xalq Sığorta, Mega Sığorta, Azsığorta, Azərbaycan Sənaye Sığorta). This entity distributes agricultural insurance products on behalf of the fund and manages contract servicing.
• Azərbaycan Respublikası Kənd Təsərrüfatı Nazirliyi (Ministry of Agriculture of Azerbaijan)coreStrategic or Co-development PartnerThe Ministry of Agriculture is a key government partner. The fund was established under the Ministry's framework. The ministry's deputy ministers regularly participate in fund events and farmer outreach programs. Joint photo competition was organized with the ministry.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• TARSIM (Turkish State Agrarian Insurance Company): Turkey's state-backed agricultural insurance pool that supervised ASİS development with a team of 10 specialists. Operates the same public-private partnership model with state-subsidized premiums covering crops, livestock, and aquaculture — the direct architectural template for Aqrar Sığorta Fondu.
• Agriculture Insurance Company of India (AIC): Indian government-owned agricultural insurer implementing the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme with heavy premium subsidies. Comparable scale and state-mandated multi-peril agricultural insurance.
• Agricorp (Ontario): Ontario Crown agency administering production insurance and AgriStability programs with government-subsidized premiums. Comparable government agricultural risk-management program structure and crop/livestock coverage scope.
• Agroseguro (Spain): Spanish agricultural insurance pool co-insurance scheme with state-subsidized premiums covering crop, livestock, and aquaculture risks. Comparable pooled-coverage structure and state-subsidy model for multi-peril agricultural insurance.
• USDA Risk Management Agency / Federal Crop Insurance Corporation: U.S. federal agency administering the crop insurance program with premium subsidies and reinsurance arrangements. Comparable as a government-backed agricultural insurance mechanism with multi-peril coverage and digital infrastructure supporting farmer enrollment.
• Saskatchewan Crop Insurance Corporation (SCIC): Canadian provincial Crown corporation providing multi-peril crop insurance with premium subsidies and yield-based coverage. Comparable government-backed crop insurance mechanism with farmer-centric digital services.

Emerging players

• Uzbekistan Agricultural Insurance Fund: Uzbek state agricultural insurance fund that met with Aqrar Sığorta Fondu at Caspian Agro Week 2026 to study Azerbaijan's claims investigation, expert certification, and system design. Emerging regional peer with similar PPP structure but less mature operating model.

Others

• Paşa Sığorta / Qala Sığorta / Xalq Sığorta: Azerbaijani non-life insurance companies (Paşa, Qala, Xalq, Mega, Azsığorta, Azərbaycan Sənaye) that act as Vasitəçi Aqrar Sığortaçılar (intermediary agricultural insurers) for Aqrar Sığorta Fondu. Channel partners and co-shareholders of the Managing Entity, not direct competitors.
• Swiss Re / Munich Re (Agricultural Reinsurance): Global reinsurers that historically reinsure state agricultural insurance pools including TARSIM and others. Adjacent enabling relationship rather than direct competition; relevant for capacity benchmarking and reinsurance pricing reference points.

Broad incumbents

• Groupama (France): Major French mutual insurer with substantial agricultural line (Groupama Assurances Mutuelles historical roots in farmer mutuals). Operates a much broader portfolio but a significant portion of business is agricultural insurance in Europe with comparable crop and livestock coverage.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/asf.gov.az
• LinkedInlinkedin.com/company/aqrar-s%C4%B1%C4%9Forta-fondu
• Instagraminstagram.com/asf.gov.az
• YouTubeyoutube.com/asf.gov.az

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Aqrar Sığorta Fondu