Qala Sigorta Asc

What Qala Sigorta Asc does

Qala Sigorta ASC is a non-life insurance company domiciled in Azerbaijan and one of the top five insurers in the country by premium volume, operating under Azerbaijan Open Joint-Stock Company (ASC) structure. Founded on 1998-12-24 as AIG Caspian Insurance Company through a joint venture between American International Group (AIG) and Caspian Insurance, the company was renamed Çartis Azərbaycan Sığorta Şirkəti in 2010 and was fully acquired by AzRe Təkrarsığorta ASC on 2015-09-30 and rebranded to its current Qala Sigorta identity. It is licensed by the Central Bank of Azerbaijan and is a member of the Mandatory Insurance Bureau, and in January 2023 became one of only a small handful of Azerbaijani reinsurers. The company offers 27 non-life insurance products (23 voluntary and 4 compulsory) spanning motor (compulsory third-party liability, KASKO, Green Card), property (compulsory real estate, mortgage property, voluntary property), travel, cargo, passenger accident, professional and general liability, voluntary health, and specialty lines such as Şərikli KASKO, Qaydalı KASKO, Qala 100, Əmin QALA bilərsiniz, İntizamlı Sürücü, Evimiz Qalamızdır, Sağlam Həyat and Qala Elite Club.

The company distributes through a head office in Yasamal (Baku), two branches (Mərkəz in Khatai and Yasamal) and 15 regional representative offices covering Ganja, Sumqayit, Lankaran, Nakhchivan, Khachmaz, Sheki, Kurdamir, Bilasuvar, Guba, Beylagan, Tovuz, Barda, Goygol, Oguz, Absheron, Shamakhi, Masalli and Khankendi. Its digital stack comprises an online insurance calculator, a personal cabinet portal (my.qala-insurance.az), a mobile application with claims reporting, a *4000 short-code customer service line, and integration with the SIMA cloud-based digital signature platform built by AzInTelecom for digital contract signing — a deployment particularly relevant to mortgage collateral insurance. Marketing and growth touchpoints also include an ASAN Volunteers memorandum for joint CSR programs, a Push30 fitness partnership embedded in the Sağlam Həyat health product, and a co-founding stake in Aqrar Sığorta Müştərək Sığorta Şirkəti for agricultural mutual insurance.

Commercially, the company generates revenue from insurance premiums collected from individual consumers and corporate clients, with pricing that varies by product, coverage tier, vehicle age and value, deductible and risk profile; CASCO rates range from roughly 1.35% to 3.7% of insured value with a 250 AZN minimum premium, travel insurance starts at 3 AZN for short trips, and the Sağlam Həyat corporate health product is sold on an annual subscription basis. Total premium volume reached 40,355,197 AZN in 2022 (down from 43,911,202 AZN in 2021), insurance payments amounted to 6,023,243 AZN in 2022, charter capital stood at 10,017,788 AZN as of 2023, and headcount grew to 159 employees. Named corporate customers include Azercell, AccessBank, Pasha Bank, BakuBus, Aqrar, Aziraat and AzInTelecom, alongside an individual customer base that includes 722,902 auto insurance policies administered.

Name

Qala Sigorta Asc

Legal name

Qala Sığorta ASC

Website

https://qala-insurance.az

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

Qala Sigorta ASC is a top-five Azerbaijani non-life insurer offering 27 insurance products (motor, property, travel, health, cargo, liability) to individual consumers and corporate clients. It distributes through a head office, two branches and 15 regional offices across Azerbaijan and operates digital self-service channels including an online calculator, mobile app and SIMA digital signature integration.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

Keywords

• Non-life insurance
• Auto insurance
• Property insurance
• Corporate insurance
• Travel insurance

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices21 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Non-life Insurance Premiums: Core revenue from 27 types of non-life insurance products including 23 voluntary and 4 compulsory insurance categories. Revenue streams include auto insurance (KASKO, compulsory civil liability), property insurance (mandatory real estate, mortgage property, voluntary), travel insurance, and corporate products.
2. Insurance Premium Collection: One-time and recurring premium collection from individual and corporate clients. Premiums calculated based on vehicle type, property value, coverage type, and risk assessment factors.
3. Reinsurance Operations: Following January 9, 2023 Central Bank license for reinsurance activities, company can now accept reinsurance business from other insurers

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Qala Sigorta ASC is a non-life insurance company in Azerbaijan offering 27 insurance products across two main categories: individual insurance (motor liability, KASKO, compulsory and voluntary property, travel, Green Card) and corporate insurance (cargo, passenger accident, general liability, voluntary health, voluntary real estate). The company also offers specialty products such as Şərikli KASKO, Qaydalı KASKO, Qala 100, Əmin QALA, İntizamlı Sürücü, Qala Elite Club, Evimiz Qalamızdır, and Sağlam Həyat. Services are delivered through a head office, 2 branches, 15 regional representative offices, an online calculator, personal cabinet, mobile app, and SIMA digital signature integration.

Product overview

Qala Sigorta ASC operates as a non-life insurance company offering a comprehensive portfolio of 27 insurance types (23 voluntary and 4 compulsory). The product lineup is organized into three main categories: Individual Insurance Products (motor liability, KASKO, property, travel), Corporate Insurance Products (cargo, passenger accident, general liability, health), and New/Specialty Products (Şərikli KASKO, Qaydalı KASKO, Qala 100, Əmin QALA, İntizamlı Sürücü, Qala Elite Club, Evimiz Qalamızdır, Sağlam Həyat). The company provides services through its headquarters, 2 branches, and 15 regional representative offices across Azerbaijan.

Differentiator

Problem solved

Functional benefit

Products and services

• Compulsory Civil Liability of Motor Vehicle Owners
• KASKO Vehicle Insurance
• Compulsory Real Estate Insurance
• Mortgage Property Insurance
• Voluntary Real Estate Insurance for Legal Entities
• Travel Insurance
• Green Card International Motor Insurance
• Voluntary Corporate Health Insurance
• Compulsory Property Operation Liability Insurance
• Compulsory Passenger Accident Insurance
• Accident Insurance
• General Liability Insurance
• Cargo Insurance
• Şərikli KASKO (Shared KASKO)
• Qaydalı KASKO (Compliant Driver KASKO)
• Qala 100
• Əmin QALA bilərsiniz
• İntizamlı Sürücü (Disciplined Driver)
• Qala Elite Club
• Evimiz Qalamızdır (Home Content Insurance)
• Sağlam Həyat (Healthy Life)
• Reinsurance Services

Quantifiable outcome

• 722,902 auto insurance policies administered
• +3 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

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, strategic and minor.

• ASAN Könüllülər (ASAN Volunteers)coreStrategic or Co-development Partner · 13 July 2024Strategic partnership through memorandum signed with ASAN Volunteers organization. Company provides financial support for community initiatives including InnoCamp innovation camp for youth and children's art festivals. This is the second project under the memorandum framework.
• AzRe Təkrarsığorta ASCcoreTechnology or Integration · 9 January 2023Central Bank of Azerbaijan issued reinsurance license to Qala Sigorta, enabling the company to provide reinsurance services to other insurance companies.
• Aqrar Sığorta Müştərək Sığorta ŞirkəticoreStrategic or Co-development Partner · 1 January 2022Qala Sigorta became one of the founders of Azerbaijan's first agricultural mutual insurance company in 2020. The first 9 insurance contracts of this project were signed through Qala Sigorta's mediation.
• AzInTelecom (under Digital Development and Transport Ministry)strategicTechnology or IntegrationIntegration of SIMA cloud-based new generation digital signature into Qala Sigorta's systems. Through SIMA, customers can access personal cabinet and sign insurance contracts digitally, particularly for mortgage property insurance.
• Push30strategicStrategic or Co-development PartnerJoint development of 'Sağlam Həyat' (Healthy Life) medical insurance program. Companies purchasing health insurance from Qala Sigorta receive Push30 sports club membership as additional benefit.
• Caspian Energy ClubminorGTM or Marketing PartnerIndustry association membership and recognition as Insurance Company of the Year in 2019 based on survey results.
• AMCHAM (American Chamber of Commerce in Azerbaijan)minorGTM or Marketing PartnerCorporate membership in American Chamber of Commerce in Azerbaijan since 2017.
• Türk Sığorta Birliyi (Turkic Insurance Union)strategicStrategic or Co-development PartnerParticipation in Turkic Insurance Union's first Assembly held in Shusha. Qala Sigorta and Qala Life Insurance executives attended to discuss insurance industry development opportunities.

Scale indicators11 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Atəşgah Sığorta: Azerbaijani P&C insurer offering auto insurance (KASKO, compulsory civil liability), property insurance, and corporate lines. Directly comparable product portfolio and Azerbaijani market focus.
• Günay Sığorta: Azerbaijani P&C insurer with offerings in auto (KASKO, compulsory MTPL), property, and travel insurance. Comparable in product categories and Azerbaijani market positioning.
• AzSigorta: One of the major Azerbaijani non-life insurance carriers offering a similar portfolio of auto, property, and corporate insurance products. Directly comparable in product categories and Azerbaijani market focus.
• Xalq Sığorta: Azerbaijani non-life insurance company with similar offerings in auto, property, and corporate segments. Operates in the same Azerbaijani market with comparable product breadth and customer targeting.
• PASHA Sığorta: The largest insurance company in Azerbaijan and a market leader across P&C, auto, and corporate lines. Directly comparable to Qala in product mix (KASKO, MTPL, property, voluntary health) and target customer base (individual consumers, SMEs, corporates), though at materially larger scale.
• MBASK: Azerbaijani insurance carrier (formerly AXA MBASK) offering P&C products including auto, property, and corporate insurance. Comparable in product mix and Azerbaijani market focus, with historical international affiliation.

Broad incumbents

• Allianz: Global P&C insurance leader with broad portfolio in motor, property, and specialty lines. While not a direct competitor in Azerbaijan, it represents the global insurance standards and product innovation frontier relevant to Qala's long-term trajectory.
• AIG: Global P&C insurer and historical parent of Qala Sigorta (founded as AIG Caspian Insurance Company in 1998; AIG was 100% owner until 2010). Comparable in product categories globally; relevant as the institutional origin of Qala's operating model and underwriting heritage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/qalainsurance.az
• LinkedInlinkedin.com/company/qala-sigorta-asc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

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 Qala Sigorta Asc