Baku, Azerbaijan, Jan.21
By Emin Aliyev - Trend:
The Finance Ministry of Azerbaijan has announced the operating results of the Top-10 insurance companies for 2013. Over 73 per cent of the total insurance fees accounted for them.
At the moment some 28 insurance companies and one reinsurance company operate in Azerbaijan.
|
Insurance company |
Premiums for 2013 in mln. manat |
Premiums for 2012 in mln. manat |
Share of fees in market in 2013. in per cent |
Share of fees in market in 2012. in per cent |
Ranking in 2013 |
Ranking in 2012 |
|
Pasa Sıgorta |
53.73 |
46.69 |
13.24 |
13.63 |
1 |
1 |
|
AzSıgorta |
42.1 |
39.8 |
10.38 |
11.62 |
2 |
2 |
|
Azerbaijan Republic State Insurance Commerce Company Azersıgorta |
40.95 |
34.56 |
10.09 |
10.09 |
3 |
4 |
|
Atesgah |
37.49 |
37.81 |
9.24 |
11.04 |
4 |
3 |
|
Pasa Heyat Sıgorta |
34.97 |
14.7 |
8.62 |
4.29 |
5 |
9 |
|
Atesgah Heyat |
23.74 |
15.76 |
5.85 |
4.6 |
6 |
7 |
|
Standard Insurance |
18.15 |
21.31 |
4.47 |
6.22 |
7 |
5 |
|
AXA MBASK |
17.31 |
17.7 |
4.27 |
5.17 |
8 |
6 |
|
İpek Yolu Sıgorta |
17.13 |
8.56 |
4.22 |
2.5 |
9 |
13 |
|
Beynelxalq Sıgorta Sirketi |
13.45 |
14.78 |
3.32 |
4.32 |
10 |
8 |
|
Total |
299.02 |
251.67 |
73.7 |
73.48 |
- |
- |
Pasa Sıgorta JSC led the ranking on insurance fees as in 2012 which accounted for 13.24 per cent of premiums collected by all companies in 2013.
AzSıgorta held 10.38 per cent of all collections of the market and Azerbaijan Republic State Insurance Commerce Company Azersıgorta had 10.09 per cent ranking second and third respectively.
In 2013, the TOP-10 included two companies that have the right to engage in life insurance in Azerbaijan - Atesgah Heyat and Pasa Heyat. Azerbaijan today has three life insurance companies licensed to provide services of this kind - Atesgah Heyat, Qala Heyat and Pasa Heyat.
The total premiums amounted to 405.68 million manat in 2013, an 18.44 per cent increase over the year and payments in this period hit 122.8 million manat, a 30.83 per cent increase.
The Azerbaijani Finance Ministry's report did not include figures of the only reinsurance company AzRE.
The official exchange rate on Jan.21 is 0.7844 AZN/USD.