Revan Insurance OJSC

What Revan Insurance OJSC does

Rəvan Sığorta ASC (Revan Insurance OJSC) is a Baku-headquartered, Azerbaijan-domiciled general insurance carrier operating under an unlimited insurance license (No. 314) issued by the Ministry of Finance on October 15, 2009. Founded in 1998 as Double Insurance Company QSC and rebranded twice (Star Alyans Sığorta in 2004, Rəvan Sığorta in 2009), the company has been wholly owned by Nurgun Şirkətlər Qrupu — one of Azerbaijan's largest diversified conglomerates — since 2007. The company underwrites 17 distinct insurance lines including property, KASKO auto, travel, individual accident, medical, liability, cargo, construction, ship, electronic device, glass, precious item, assembly, theft, income-loss, and voluntary NVSMM coverage, and runs an online insurance calculator plus a digital KASKO application form on revansigorta.az alongside physical sales offices in Baku and Ganja. Revenue is generated through subscription-style annual insurance premiums, with the only disclosed data point being 546,891 AZN in claims paid during 2017 (representing 80% of premiums collected that year). The stated charter capital is 8.9 million AZN, the company serves approximately 4,286 customers, and operates with a small professional staff (35 personnel per the firmographic source). The business is entirely domestic to Azerbaijan, with distribution via direct sales offices, sales representatives, and a self-service web channel targeted at both retail individuals and corporate clients across personal-property, vehicle, health, travel, and commercial-risk lines.

Name

Revan Insurance OJSC

Legal name

Rəvan Sığorta ASC

Website

https://revansigorta.az

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Rəvan Sığorta ASC is an Azerbaijan-based general insurance carrier offering 17 lines of property, vehicle, health, travel, and commercial insurance under an unlimited Ministry of Finance license, serving retail and corporate customers via offices in Baku and Ganja plus an online portal, and wholly owned by Nurgun Şirkətlər Qrupu.

Ownership category

akta.pro rank

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, Marketing or Sales, Infrastructure

Revenue model

1. Insurance premiums: Rəvan Insurance collects insurance premiums from policyholders in exchange for coverage against specified risks. Premiums are collected upfront or in installments as agreed in insurance contracts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Rəvan Insurance OJSC is an Azerbaijan-based insurance company offering 17 distinct insurance products covering property, vehicles (KASKO), travel, personal accident, medical, liability, cargo, construction, electronic devices, ship, theft, glass, precious items, and assembly risks. It serves both individual consumers and corporate clients through direct sales offices in Baku and Ganja, sales representatives, and an online portal with an insurance calculator and application forms.

Product overview

Revan Insurance OJSC is an insurance services provider offering a comprehensive portfolio of insurance products and digital services. The company operates as a single-brand insurance provider with a diverse product portfolio including property insurance, travel insurance, individual accident insurance, KASKO vehicle insurance, medical insurance, liability insurance, cargo insurance, construction insurance, electronic device insurance, ship insurance, theft insurance, glass insurance, precious item insurance, and assembly insurance. The company also provides digital services including an online insurance calculator and vehicle insurance application forms. The product portfolio serves both individual and corporate customers across various risk coverage needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Insurance (Əmlak sığortası)

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Direct peers

• AXA MBASK: A joint venture between AXA Group and MBASK, providing P&C and life insurance in Azerbaijan. Direct competitor with international backing, offering overlapping lines including auto, property, and health insurance.
• PASHA Insurance: One of the largest insurance companies in Azerbaijan, offering a broad multi-line portfolio (property, auto, health, travel) directly competing with Revan in the same domestic market. PASHA serves both retail and corporate customers through similar distribution channels.
• Ateshgah Insurance: Azerbaijani multi-line insurer offering property, motor, travel, and personal accident insurance to retail and corporate customers. Direct competitor in the same Azerbaijani market with comparable product breadth and GTM approach.
• Azerbaijan Insurance Company (AIC): One of the established Azerbaijani insurance carriers offering property, motor, and liability coverage to retail and corporate customers. Comparable multi-line portfolio and direct competition in the same Baku market.
• Günay Sığorta: Azerbaijani insurer offering voluntary insurance products including property, auto, and personal accident lines. Direct competitor serving similar retail customers within Azerbaijan.
• Standard Insurance (Azerbaijan): Azerbaijan-based insurance carrier offering multi-line P&C products to retail and corporate policyholders. Comparable scale and product mix to Revan in the same single-country market.
• AtaInsurance: Azerbaijani insurance company offering a portfolio of voluntary and compulsory insurance products including property, auto, and accident coverage. Direct competitor serving similar SMB and retail customer segments in Azerbaijan.

Regional players

• IIC Group (Azerbaijan): Insurance and reinsurance group operating in the Caucasus region with multi-line offerings. Comparable in product breadth but operates at a larger regional scale than Revan's purely domestic footprint.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Revan_sigorta
• Facebookfacebook.com/revansigorta.az
• Instagraminstagram.com/revan_sigorta
• LinkedInlinkedin.com/company/revan-insurance-ojsc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Revan Insurance OJSC