Baku, Azerbaijan, June 17
By Emin Aliyev - Trend:
The table below presents the ranking of 28 Azerbaijani insurance companies in terms of insurance premiums collected in January-May 2014.
|
No. |
Insurance companies |
Insurance premiums collected in January-May 2014, shown in AZN |
|
1 |
Paşa Sığorta |
31,029,789.94 |
|
2 |
Atəşgah Həyat |
20,235,216.71 |
|
3 |
Paşa Həyat Sığorta |
19,485,582.05 |
|
4 |
Azerbaijan State Insurance Commercial Company 'Azersigorta' |
17,413,392.00 |
|
5 |
AzSığorta |
15,108,209.10 |
|
6 |
Atəşgah Sığorta |
12,440,419.04 |
|
7 |
Qala Həyat Sığorta |
10,213,752.87 |
|
8 |
İpək Yolu Siğorta |
8,690,131.26 |
|
9 |
AXA MBASK |
7,896,978.22 |
|
10 |
Standard Insurance |
7,595,014.48 |
|
11 |
International Insurance Company |
6,332,216.77 |
|
12 |
Mega Sığorta |
4,651,701.04 |
|
13 |
Azərbaycan Sənaye Sığorta |
4,173,175.51 |
|
14 |
AtaSığorta |
4,114,629.90 |
|
15 |
Xalq Sığorta |
4,015,478.36 |
|
16 |
A-qroup Sığorta Şirkəti |
2,707,319.71 |
|
17 |
Qarant Sığorta |
2,345,734.01 |
|
18 |
Alfa Sığorta |
1,789,876.61 |
|
19 |
Buta Sığorta |
1,787,583.00 |
|
20 |
Basak İnam Sığorta Şirkəti |
1,491,434.00 |
|
21 |
Rəvan Sığorta |
1,210,498.88 |
|
22 |
Bakı Sığorta |
1,137,908.75 |
|
23 |
Azerqarant Sığorta |
315,164.16 |
|
24 |
Əmrah Sığorta |
305,956.72 |
|
25 |
Era Trans Sığorta |
285,514.97 |
|
26 |
Günay Sığorta |
97,081.29 |
|
27 |
Çartis Azərbaycan |
39,186.21 |
|
28 |
Royal Sığorta |
2,254.84 |
|
TOTAL: |
186,911,200.40 |
Pasa Sıgorta leads the ranking in terms of insurance premiums collected in January-May 2014, according to a report from the State Insurance Supervision Service of Azerbaijani Finance Ministry.
Over 16.6 percent of the total premiums collected during this period accounted for this company.
Atesgah Heyat (10.83 percent of all premium collections) and Pasa Heyat Sigorta (10.43 percent) ranked second and third in the ranking respectively
The chart below presents the ranking of 28 insurance companies in terms of compensations paid in January-May, 2014:
|
No. |
Insurance companies |
Compensations paid in January-May, 2014 (shown in AZN) |
|
1 |
Pasa Sıgorta |
11,066,826.25 |
|
2 |
Azerbaycan Senaye Sıgorta |
6,256,324.37 |
|
3 |
Atesgah Sıgorta |
5,568,914.42 |
|
4 |
Azerbaijan State Insurance Commercial Company 'Azersigorta' |
5,388,759.00 |
|
5 |
AzSıgorta |
3,768,689.74 |
|
6 |
AXA MBASK |
3,739,994.11 |
|
7 |
Standard Insurance |
2,695,350.86 |
|
8 |
A-Qroup Sıgorta Sirketi |
2,636,807.60 |
|
9 |
International Insurance Company |
2,473,303.49 |
|
10 |
Atesgah Heyat |
1,899,346.39 |
|
11 |
AtaSıgorta |
1,377,988.58 |
|
12 |
Xalq Sıgorta |
1,339,054.39 |
|
13 |
Buta Sıgorta |
1,036,712.24 |
|
14 |
Qarant Sıgorta |
991,027.08 |
|
15 |
Bakı Sıgorta |
987,363.94 |
|
16 |
Pasa Heyat Sıgorta |
913,788.05 |
|
17 |
Alfa Sıgorta |
882,521.22 |
|
18 |
Basak Inam Sıgorta Sirketi |
657,039.95 |
|
19 |
Mega Sıgorta |
494,363.40 |
|
20 |
Revan Sıgorta |
436,824.07 |
|
21 |
Emrah Sıgorta |
208,261.17 |
|
22 |
Era Trans Sıgorta |
166,631.31 |
|
23 |
Qala Heyat Sıgorta |
103,115.96 |
|
24 |
Azerqarant Sıgorta |
47,418.62 |
|
25 |
Ipek Yolu Sigorta |
40,422.08 |
|
26 |
Gunay Sıgorta |
26,116.16 |
|
27 |
Royal Sıgorta |
8,313.97 |
|
28 |
Çartis Azerbaycan |
272.00 |
|
TOTAL: |
55211550.42 |
Pasa Sıgorta is the market leader in terms of insurance compensation payments as well. Between January and May, 2014 the company paid 11.07 million AZN.
It is followed by Azerbaycan Senaye Sıgorta (with payments totaling 6.27 million AZN) and Atesgah Sigorta (with payments at 5.57 million AZN).
Between January and May, the total amount of collected premiums of insurance companies operating in Azerbaijan stood at 186.9 million AZN, or 10.8 percent (18.2 million AZN) more than the figures for the same period of 2013.
The compensations paid by the insurance companies in the first five months of 2014 amounted to 55.2 million AZN, or 13 percent (6.3 million AZN) more than the figures for January-May, 2013.
The licenses of Royal Sıgorta and Gunay Sıgorta insurance companies were suspended in line with a decision, taken by Azerbaijani Finance Ministry on February 24.
Six months were allocated in accordance with the insurance legislation's requirements to address the shortcomings in these companies' activities, which caused the suspension of their licenses.
Royal Sigorta and Gunay Sigorta will be able to reinstate their licenses if they align their aggregate capital with Finance Ministry's minimum requirement.
The minimum amount of total capital of insurers, operating in the non-life insurance sector, is set at the level of five million AZN.
The only reinsurance company AzRe's statistical indices are not shown in the Azerbaijani Finance Ministry's report.
The official exchange rate on June 17 is 0.7843 AZN/USD.
Edited by CN