BAKU, Azerbaijan, May 11
By Yusif Aghayev - Trend:
As many as seven insurance companies operating in Azerbaijan decreased the collection of premiums in March 2020 compared to March 2019, Trend reports referring to a report of the Azerbaijani Central Bank.
The maximum decline on this indicator was observed at the State Commerce Insurance Company of Azerbaijan – more than 26 times, and the lowest one - at Ateshgah Life Insurance – 1.3 percent.
The ranking of domestic insurers, describing the dynamics of a drop in the collection of insurance premiums is as follows:
|
# |
Insurance company |
March 2019 |
March 2020 |
Dynamics of drop |
|
1 |
ATA Sigorta |
1.56 million manat ($920,000) |
731,000 manat ($430,000) |
by 2.1 times |
|
2 |
Ateshgah Life Insurance |
4.21 million manat ($2.48 million) |
4.16 million manat ($2.45 million) |
1.3 percent |
|
3 |
Ateshgah Life Insurance |
2.2 million manat ($1.2 million) |
1.37 million manat ($810,000) |
37 percent |
|
4 |
State Commerce Insurance Company of Azerbaijan |
27.88 million manat ($16.4 million) |
1.2 million manat ($710,000 million) |
by over 26 times |
|
5 |
AzInsurance |
936,000 manat ($550,590) |
921,000 manat ($541,760) |
1.6 percent |
|
6 |
Qala Hayat Insurance Company |
812,000 manat ($477,650) |
635,000 manat ($373,530) |
22 percent |
|
7 |
Xalq Sigorta |
1.9 million manat ($1.1 million) |
1.37 million manat ($810,000) |
30 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 11)
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