Baku, Azerbaijan, Feb. 27
By Anvar Mammadov – Trend:
Payments of Azerbaijan’s 10 major insurance companies amounted to 208.36 million manats (1.7475 AZN/USD on Feb. 27) in 2016, said the country’s Financial Market Supervisory Authority (FIMSA).
The figure accounts for 87.8 percent of all the insurance payments for 2016.
Insurance company |
Payments in 2016, million manats |
Payments in 2015, million manats |
Share for volume of payments in 2016, % |
Share for volume of payments in 2015, % |
Ranking in 2016 |
Ranking in 2015 |
PASHA Insurance |
47.44 |
29.89 |
20 |
16.58 |
1 |
1 |
PASHA Life |
45.91 |
16.35 |
19.35 |
9.07 |
2 |
4 |
Ateshgah Life |
27.11 |
18.23 |
11.43 |
10.11 |
3 |
2 |
Qala Life |
21.96 |
17.65 |
9.26 |
9.79 |
4 |
3 |
AzerInsurance |
16.17 |
13.16 |
6.81 |
7.3 |
5 |
6 |
Ateshgah Insurance |
15.73 |
15.92 |
6.63 |
8.83 |
6 |
5 |
AXA MBASK |
9.79 |
10.69 |
4.13 |
5.93 |
7 |
7 |
Standard Insurance |
8.61 |
7.83 |
3.63 |
4.34 |
8 |
9 |
A-Group |
7.89 |
7.24 |
3.33 |
4.02 |
9 |
10 |
AzInsurance |
7.75 |
7.92 |
3.27 |
4.39 |
10 |
8 |
Total |
208.36 |
144.88 |
87.8 |
80.38 |
- |
- |
PASHA Insurance continues to lead the ranking in terms of the payments in 2016. The company’s share of the total payments was 20 percent. Payments of PASHA Insurance totalled 47.44 million manats in 2016.
PASHA Life ranked the second in the list with 45.91 million manats (19.35 percent), being followed by Atehsgah Life – 27.11 million manats (11.43 percent).
In 2016, all insurance companies operating in Azerbaijan collected 486.07 million manats in premiums, which is by 9.68 percent more than in 2015.
Payments of claims by the Azerbaijani insurance companies reached 237.25 million manats during the period, which is by 31.63 percent more than in 2015.