BAKU, Azerbaijan, April 25
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.
Most insurance companies in Azerbaijan ended 2019 with a profit. The PASHA Life Insurance OJSC and PASHA Insurance OJSC completed the last year with a maximum profit worth 32 million manat ($18.8 million) and 31.7 million manat ($18.6 million), respectively.
Four domestic insurance companies - AXA Mbask Insurance Company OJSC, Standard Insurance OJSC, Xalq Life Insurance and Xalq Insurance - ended the previous year with losses.
The data on profit and loss of domestic insurance companies is as follows:
|
Insurance companies |
||
|
Profit |
Loss |
|
|
"Amrah Sığorta" |
253,000 manat ($148,823) |
|
|
"A-Qroup" |
1.6 million manat ($0.9 million) |
|
|
"AtaSığorta" |
663,000 manat ($390,000) |
|
|
"Atəşgah Həyat Sığorta" |
6.9 million manat ($4 million) |
|
|
"Atəşgah Sığorta" |
1.1 million manat ($0.6 million) |
|
|
"AXA MBASK" |
4 million manat ($2.3 million) |
|
|
"Azərbaycan Sənaye Sığorta" |
780,000 manat ($458,823) |
|
|
"AZSIĞORTA" |
769,000 manat ($452,352) |
|
|
"Bakı Sığorta" |
237,000 manat ($139.411) |
|
|
"Günay Sığorta" |
719,000 manat ($422,941) |
|
|
"İpək Yolu Sığorta" |
876,000 manat ($515,294) |
|
|
"Meqa Sığorta" |
3.5 million manat ($2 million) |
|
|
"Paşa Həyat Sığorta" |
32 million manat ($18.8 million) |
|
|
"Paşa Sığorta" |
31.7 million manat ($18.6 million) |
|
|
"Qala Həyat Sığorta" |
2.6 million manat ($1.5 million) |
|
|
"Qala Sığorta" |
1.3 million manat ($0.7 million) |
|
|
"Rəvan Sığorta" |
246,000 manat ($144,705) |
|
|
"Standard Insurance" |
1.7 million manat ($1 million) |
|
|
"Xalq Həyat Sığorta" |
1.1 million manat ($0.6 million) |
|
|
"Xalq Sığorta" |
17.6 million ($10.3 million) |
|
In general, insurance companies of Azerbaijan collected insurance premiums in the amount of 681.1 million manat ($400.6 million) in 2019, which is 46.7 million manat ($27.4 million) or 6.4 percent less compared to 2018 and paid insurance claims in the amount of 301.5 million manat ($177.3 million), which is 61.2 million manat ($36 million) or 25.4 percent more compared to 2018.
Presently, 22 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on Apr. 25)