BAKU, Azerbaijan, April 9
By Yusif Aghayev - Trend:
The data on the financial results of the activity of Azerbaijani insurers in 2019 have been disclosed, Trend reports referring to the published financial reports of local insurance companies.
The vast majority of insurers completed 2019 with the profit, while four insurers – with the loss.
The data on profit and loss of domestic insurance companies is as follows:
|
Insurance company |
mln manat |
|
|
profit |
loss |
|
|
"Amrah Sigorta" |
0.253 |
|
|
"A-Qroup" |
1.625 |
|
|
"AtaSigorta" |
0.663 |
|
|
"Ateshgah Life Insurance" |
6.961 |
|
|
"Ateshgah Insurance" |
1.178 |
|
|
"AXA MBASK" |
4.026 |
|
|
Azerbaijani State Commercial Insurance Company |
1.881 |
|
|
"Azerbaijan Industrial Insurance Company" |
0.781 |
|
|
"AZSIGORTA" |
0.769 |
|
|
"Baki Sigorta" |
0.237 |
|
|
"Gunay Sigorta" |
0.720 |
|
|
"Ipek Yolu Sigorta" |
0.877 |
|
|
"Mega Insurance" |
3.553 |
|
|
"NaxcivanSigorta" |
- |
- |
|
"Pasha Life Insurance" |
32.013 |
|
|
"Pasha Insurance" |
31.079 |
|
|
"Qala Life Insurance" |
2.621 |
|
|
"Qala Insurance" |
1.338 |
|
|
"Revan Insurance" |
0.247 |
|
|
"Standard Insurance" |
1.774 |
|
|
"Xalq Life Insurance" |
1.109 |
|
|
"Xalq Insurance" |
17.656 |
|
The unprofitableness of Standard Insurance, Xalq Life Insurance and Xalq Insurance companies was associated with the formation of insurance reserves.
AXA MBASK insurance company announced the suspension of activity in early 2019.
The company does not conclude new insurance contracts, but only renders services related to the existing ones, which determines its current financial performance.
Some 22 insurance companies and one reinsurance companies operate in Azerbaijan.