BAKU, Azerbaijan, June 4
By Yusif Aghayev – Trend:
Nine insurance companies operating in Azerbaijan increased 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 growth on this indicator by 81.6 percent was observed at Nakhchivansigorta, by 75 percent - ATA Sigorta, and by 47.1 percent - Ateshgah Hayat Sigorta.
The lowest dynamics of growth in collection of premiums was observed at Standard Insurance - 1.6 percent compared to April 2019.
The ranking of domestic insurers, reflecting the dynamics of growth in the collection of premiums is as follows:
|
# |
Insurance company |
2019 |
2020 |
Dynamics of growth |
|
April |
April |
|||
|
1 |
A-Group |
615,000 manat ($361,764) |
828,000 manat ($487,058) |
34.60 percent |
|
2 |
AТА Sigorta |
1.04 million manat ($611,764) |
1.8 million manat ($1.05 million) |
75 percent |
|
3 |
Ateshgah Hayat Sigorta |
3.08 million manat ($1.8 million) |
4.5 million manat ($2.6 million) |
47.10 percent |
|
4 |
Azerbaijani State Insurance Commercial Company |
1.3 million manat ($764,705) |
1.4 million manat ($823,529) |
8.40 percent |
|
5 |
Gunay Sigorta |
499,000 manat ($293,529) |
523,000 manat ($307,647) |
4.80 percent |
|
6 |
Nakhchivansigorta |
49,000 manat ($28,823) |
89,000 manat ($52,352) |
81.60 percent |
|
7 |
Pasha Hayat Sigorta |
34.9 million manat ($20.5 million) |
41.9 million manat ($24.6 million) |
20.20 percent |
|
8 |
Qala Hayat Sigorta |
1.02 million manat ($600,000) |
1.3 million manat ($764,705) |
30.80 percent |
|
9 |
Standard Insurance |
893,000 manat ($525,294) |
908,000 manat ($534,117) |
1.60 percent |
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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