Baku, Azerbaijan, Sept. 23
By Anvar Mammadov – Trend:
Azerbaijan’s 10 major insurance companies made insurance payments totalling 120.71 million Azerbaijani manats (1.6292 AZN/USD on Sept. 23) in January-August 2016, said the Financial Market Supervisory Body.
The figure accounts for 88.3 percent of the payments made by all the insurance companies in the mentioned period.
There are a total of 25 insurance companies in Azerbaijan.
|
Insurance company |
Payments for January-August 2016, in million manats |
Payments for January-August 2015, in million manats |
Share of payments in January-August 2016, percent |
Share of payments in January-August 2015, percent |
Ranking in January-August 2016 |
Ranking in January-August 2015 |
|
PASHA Insurance |
28.44 |
19.36 |
20.79% |
16.67% |
1 |
1 |
|
Ateshgah Life |
19.9 |
9.59 |
14.55% |
8.25% |
2 |
4 |
|
PASHA Life |
14.49 |
7.05 |
10.60% |
6.07% |
3 |
7 |
|
Qala Life |
14.06 |
16.13 |
10.28% |
13.88% |
4 |
2 |
|
AzerInsurance |
11.71 |
8.27 |
8.56% |
7.12% |
5 |
5 |
|
Ateshgah |
10.08 |
10.33 |
7.37% |
8.89% |
6 |
3 |
|
AXA MBASK |
5.84 |
7.57 |
4.27% |
6.52% |
7 |
6 |
|
Standard Insurance |
5.84 |
5.09 |
4.27% |
4.39% |
8 |
8 |
|
A-Group |
5.4 |
4.7 |
3.95% |
4.05% |
9 |
10 |
|
AzInsurance |
4.94 |
4.93 |
3.61% |
4.24% |
10 |
9 |
|
Total |
120.71 |
93.02 |
88.3% |
80.1% |
- |
- |
Pasha Insurance leads the ranking in terms of its insurance payments. The company paid 28.44 million manats, or 20.79 percent of the total amount.
Ateshgah Life ranked second in the same list with 19.9 million manats, or 14.55 percent of the total payments, followed by Pasha Life, which paid 14.49 million manats (10.6 percent).
In January-August 2016, insurance companies in Azerbaijan collected 356.18 million manats in insurance premiums, which is 43.34 million manats (13.9 percent) more than the same period of 2015.
The insurance companies’ payments increased by 17.7 percent during the year and amounted to 136.77 million manats during the reporting period.