BAKU, Azerbaijan, June 3
By Yusif Aghayev – Trend:
The data on the collection of premiums in the Azerbaijani insurance market in April 2020 has been disclosed, Trend reports on June 3 referring to the report published by the Central Bank of Azerbaijan.
According to the report, the Azerbaijani insurance companies collected insurance premiums worth 70.6 billion manat ($41.5 billion) in April 2020, which is 6.4 million manat ($3.8 million) or over 10 percent more than in April 2019.
The review of the premiums among domestic insurance companies is as follows:
|
# |
Insurance company |
April |
|
2020 |
||
|
1 |
Pasha Hayat Sigorta |
41.9 million manat ($24.6 million) |
|
2 |
Pasha Sigorta |
7.5 million manat ($4.4 million) |
|
3 |
Ateshgah Hayat |
4.5 million manat ($2.6 million) |
|
4 |
Meqa Sigorta |
2.1 million manat ($1.2 million) |
|
5 |
AtaSigorta |
1.8 million manat ($1.05 million) |
|
6 |
Xalq Sigorta |
1.7 million manat ($1 million) |
|
7 |
Qala Sigorta |
1.7 million manat ($1 million) |
|
8 |
Azerbaijani State Insurance Commercial Company |
1.4 million manat ($823,529) |
|
9 |
Qala Hayat Sigorta |
1.3 million manat ($764,705) |
|
10 |
Ateshgah |
1.2 million manat ($705,882) |
|
11 |
Standard Insurance |
908,000 manat ($534,117) |
|
12 |
Ipek Yolu Sigorta |
894,000 manat ($525,882) |
|
13 |
A-Group |
828,000 manat ($487,058) |
|
14 |
Azerbaijan Industrial Insurance Company |
778,000 manat ($457,647) |
|
15 |
AZSIGORTA |
742,000 manat ($436,470) |
|
16 |
Gunay Sigorta |
523,000 manat ($307,647) |
|
17 |
Xalq Hayat Sigorta |
197,000 manat ($115,882) |
|
18 |
Baku Sigorta |
99,000 manat ($58,235) |
|
19 |
Nakhchivan Sigorta |
89,000 manat ($52,352) |
|
20 |
Revan Sigorta |
85,000 manat ($50,000) |
|
21 |
Amrah Sigorta |
39,000 manat ($22,941) |
|
22 |
AXA MBASK |
0 |
|
Total: |
70.6 billion manat ($41.5 billion) |
Some 68 percent of all premiums collected in April 2020 in the Azerbaijani insurance market accounted for Pasha Hayat Sigorta insurance company.
An increase in the collection of premiums was observed in the Azerbaijani insurance market despite the special quarantine regime in April and the restricted movement of citizens associated with the special quarantine regime, as well as the ban on certain types of activity that caused a decline in economic activity.
The license of Standard Insurance company was canceled in May 2020.
Today, 21 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on June 3)
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