BAKU, Azerbaijan, Feb. 8
By Yusif Agayev – Trend:
Data on collections and payments on the Azerbaijani insurance market for 2019 were published, Trend reports referring to the report of country’s Central Bank (CBA).
According to the report, the Azerbaijani insurance companies collected over 681.1 million manat of insurance premiums and paid 301.534 million manat of insurance claims. The amount of collected premiums exceeded 46.7 million manat in 2019, or 6.4 percent less compared to 2018. At the same time, the amount of paid insurance claims increased by 61.2 million manat or 25.4 percent.
Below is an overview of fees and reimbursements among domestic insurance companies:
|
in manat |
|||
|
Insurance Companies |
Insurance premiums |
Insurance claims |
|
|
1 |
PASHA Life |
212,559 |
99,505 |
|
2 |
PASHA Insurance |
150,177 |
52,798 |
|
3 |
State Insurance Commerce Company |
49,067 |
16,240 |
|
4 |
Ateshgah Life Insurance Company |
39,087 |
19,131 |
|
5 |
Ateshgah |
36,884 |
18,986 |
|
6 |
Xalq Insurance |
28,340 |
16,016 |
|
7 |
Qala Insurance |
26,787 |
3,270 |
|
8 |
Mega Insurance |
21,815 |
5,030 |
|
9 |
Silk Way Insurance |
18,495 |
19,931 |
|
10 |
Ata Insurance |
18,094 |
14,628 |
|
11 |
AzInsurance |
15,289 |
4,812 |
|
12 |
A-Group |
15,125 |
8,538 |
|
13 |
Qala Life |
14,861 |
6,262 |
|
14 |
Standard Insurance |
14,060 |
5,453 |
|
15 |
Gunay Insurance |
7,222 |
1,894 |
|
16 |
Azerbaijan Industrial Insurance Company |
5,632 |
2,019 |
|
17 |
Revan Insurance |
3,185 |
477 |
|
18 |
Baku Insurance |
1,140 |
239 |
|
19 |
Xalq Life |
977 |
- |
|
20 |
AXA MBASK |
975 |
6,101 |
|
21 |
Amrah Insurance |
861 |
202 |
|
22 |
Nakhchivan Insurance |
546 |
2 |
|
Total |
681,178 |
301,534 |
|
Currently, 22 insurance and 1 reinsurance companies operate in Azerbaijan.