BAKU, Azerbaijan, June 4
By Yusif Aghayev – Trend:
Twelve Azerbaijani insurance companies reduced the collection of insurance premiums in April 2020 compared to April 2019, Trend reports referring to a report published by the Central Bank of Azerbaijan.
The highest dynamics of decrease was observed at Revan Sigorta insurance company - by more than three times, Xalq Sigorta – by more than two times, and Azsigorta – by two times compared to April 2019.
AXA MBASK insurance company does not carry out insurance operations this year.
The slowest dynamics of decrease in the collection of insurance premiums was observed in Azerbaijan Industrial Insurance Company and Pasha Sigorta company - by less than one percent.
The ranking of domestic insurers, reflecting the dynamics of a decrease in the collection of insurance premiums is as follows:
|
# |
Insurance company |
April 2019 |
April 2020 |
Dynamics of decrease |
|
1 |
Amrah Sigorta |
46,000 manat ($27,058) |
39,000 manat ($22,941) |
15.20 percent |
|
2 |
Ateshgah |
1.4 million manat ($823,529) |
1.2 million manat ($705,882) |
13.30 percent |
|
3 |
AXA MBASK |
39,000 manat ($22,941) |
- |
|
|
4 |
Azerbaijan Industrial Insurance Company |
782,000 manat ($460,000) |
778,000 manat ($457,647) |
less than 1 percent |
|
5 |
AZSIGORTA |
1.5 million manat ($882,352) |
742,000 manat ($436,470) |
by 2 times |
|
6 |
Baku Sigorta |
123,000 manat ($72,352) |
99,000 manat ($58,235) |
19.50 percent |
|
7 |
Ipek Yolu Sigorta |
1.03 million manat ($605,882) |
894,000 manat ($525,882) |
13.60 percent |
|
8 |
Meqa Sigorta |
2.5 million manat ($1.5 million) |
2.1 million manat ($1.2 million) |
14.60 percent |
|
9 |
Pasha Sigorta |
7.5 million manat ($4.4 million) |
7.5 million manat ($4.4 million) |
less than 1 percent |
|
10 |
Qala Sigorta |
1.8 million manat ($1.05 million) |
1.7 million manat ($1 million) |
5.20 percent |
|
11 |
Revan Sigorta |
261,000 manat ($153,529) |
85,000 manat ($50,000) |
By more than 3 times |
|
12 |
Xalq Sigorta |
3.7 million manat ($2.2 million) |
1.7 million manat ($1 million) |
By more than 2 times |
Azerbaijani insurance companies collected insurance premiums worth 70.6 million manat ($41.5 million) in April 2020, which is 6.4 million manat ($3.8 million) or over 10 percent more than in April 2019.
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 4)
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