BAKU, Azerbaijan, May 10
By Yusif Aghayev - Trend:
Some 13 insurance companies operating in Azerbaijan increased the collection of premiums in March 2020 compared to March 2019, Trend reports referring to a report of the Azerbaijani Central Bank.
The biggest dynamics of growth on this indicator was observed at Amrah Sigorta – 6.4 times, Silk Way Insurance – 2.6 times, Qala Sigorta - 1.8 times, Baku Sigorta – 56 percent and Revan Sigorta – 52 percent.
The lowest dynamics of growth on this indicator was observed at Meqa Sigorta insurance company – 8.2 percent in March 2020 compared to the same period of last year.
The ranking of domestic insurers, describing the dynamics of an increase in the collection of insurance premiums is as follows:
|
# |
Insurance company |
March 2019 |
March 2020 |
Dynamics of growth |
|
1 |
Amrah Sigorta |
30,000 manat ($17,647) |
193,000 manat ($113,529) |
by 6.4 times |
|
2 |
A-Group |
610,000 manat ($358,823) |
677,000 manat ($398,235) |
11 percent |
|
3 |
Azerbaijan Industrial Insurance |
814,000 manat ($478,823) |
966,000 manat ($568,235) |
18 percent |
|
4 |
Baku Sigorta |
54,000 manat ($31,764) |
90,000 manat ($52,941) |
66 percent |
|
5 |
Gunay Sigorta |
345,000 manat ($202,941) |
546,000 manat ($321,176) |
58 percent |
|
6 |
Silk Way Insurance |
33,000 manat ($19,411) |
88,000 manat ($51,764) |
by 2.6 times |
|
7 |
Meqa Sigorta |
3.07 million manat ($1.8 million) |
3.3 million manat ($1.9 million) |
8.7 percent |
|
8 |
NakhchivanSigorta |
43,000 manat ($25,294) |
62,000 manat ($36,470) |
44 percent |
|
9 |
Pasha Hayat Sigorta |
15.4 million manat ($9.05 million) |
21.9 million manat ($12.9 million) |
42 percent |
|
10 |
Pasha Sigorta |
6.5 million manat ($3.8 million) |
8.7 million manat ($5.1 million) |
33 percent |
|
11 |
Qala Sigorta |
920,000 manat ($541,176) |
1.7 million manat ($588,235) |
by 1.83 times |
|
12 |
Revan Sigorta |
132,000 manat ($77,647) |
201,000 manat ($118,235) |
52 percent |
|
13 |
Standard Insurance |
725,000 manat ($426,470) |
884,000 manat ($520,000) |
22 percent |
The Azerbaijani insurance companies collected insurance premiums worth 50.02 million manat ($29.4 million) in March 2020. The volume of the collected premiums was by 18.3 million manat ($10.8 million) or 26.8 percent less than in March 2019.
Today, 22 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on May 10)
---
Follow the author on Twitter: @yusif62610338