Baku, Azerbaijan, Dec.1
By Anvar Mammadov - Trend:
In January-October 2015, 10 largest insurance companies of Azerbaijan made insurance payments worth 111.61 million manats, the message of the State Insurance Supervision Service under the Azerbaijani Finance Ministry said Dec.1.
The official exchange rate is 1.0513 AZN/USD as of Dec.1.
|
Name of insurance company |
Payments for Jan.-Oct. 2015 (million manat) |
Payments for Jan.-Oct. 2014 (million AZN) |
Share of payment volume on the market in Jan.-Oct. 2015 in % |
Share of payment volume on the market in Jan.-Oct. 2014 in % |
Ranking in Jan.-Oct. 2015 |
Ranking in Jan.-Oct. 2014 |
|
PASHA Insurance |
24,59 |
22,72 |
22,03 |
22,73 |
1 |
1 |
|
Qala Life |
16,43 |
1,48 |
14,72 |
1,48 |
2 |
18 |
|
Ateshgah |
13,06 |
12,24 |
11,70 |
12,25 |
3 |
3 |
|
Ateshgah Life |
11,01 |
21,59 |
9,86 |
21,60 |
4 |
2 |
|
AzerInsurance |
10,48 |
10,84 |
9,39 |
10,85 |
5 |
4 |
|
AXA MBASK |
9,14 |
8,7 |
8,19 |
8,70 |
6 |
5 |
|
PASHA Life |
8,17 |
2,46 |
7,32 |
2,46 |
7 |
14 |
|
AzInsurance |
6,48 |
8,17 |
5,81 |
8,17 |
8 |
6 |
|
Standard Insurance |
6,4 |
5,99 |
5,73 |
5,99 |
9 |
8 |
|
A-Group |
5,85 |
5,76 |
5,24 |
5,76 |
10 |
9 |
|
TOTAL |
111,61 |
99,95 |
79,71 |
76,06 |
- |
- |
PASHA Insurance topped the ranking in terms of insurance payments again. Around 22.03 percent of compensation paid by all companies in the reporting period accounted for this company. The company made payments worth 24.59 million manats in Jan.-Oct. 2015.
Qala Life insurance company ranked second with total payments of 16.43 million manats (14.72 percent of all payments), while Ateshgah ranked third with payments worth 13.06 million manats (11.70 percent).
AzInsurance, which occupied the ninth position in September, rose to the eighth one, and Standard Insurance dropped to the ninth position.
In January-October 2015, the total amount of fees of insurance companies operating in the country amounted to 378.94 million manats or by 6.45 percent more compared to the same period of 2014. The volume of payments of insurance companies for January-October 2015 amounted to 140.02 million manats or by 6.55 percent more than in the same period of 2014.
The report of the Azerbaijani Ministry of Finance has not included the results of the activity of AzRE, the only reinsurance company.
There are 27 insurance companies in Azerbaijan