About 80% of collections accounted for 5 insurance companies in Azerbaijan

Economy Materials 23 February 2016 12:44 (UTC +04:00)

Baku, Azerbaijan, Feb. 23

By Anvar Mammadov - Trend:

The Azerbaijani PASHA Insurance Company became the leader of the Azerbaijan's insurance market in January 2016 by the volume of collections.

The company's insurance premiums totaled 35.2 million Azerbaijani manats, a message of Azerbaijan Insurers Association said.

The official exchange rate is 1.5612 AZN/$1 as of Feb. 23.

The company is followed by Silk Way Insurance, collections of which totaled 8 million manats and PASHA Life Insurance - 7.1 million manats.

Ateshgah Insurance company (4.9 million manats) and Qala Life Insurance (three million manats) are also in the top five, the message said.

About 77 percent (nearly 59 million manats) of collections in the insurance market accounted for the top 5 companies.

The increase in collection of premiums was observed in 14 companies, and the reduction - in 11, said the message.


Follow the author on Twitter: @Anvar_Mammadov