BAKU, Azerbaijan, December 25. Total payments of 10 leading insurance companies in Azerbaijan amounted to 1.016 billion manat or $597.6 million (91.75 percent of total insurance payments) from January through November 2023, Trend reports.
According to data from the Azerbaijan Central Bank, Pasha Life Insurance led the way in terms of volume of insurance payments, with payments totaling 473.78 million manat ($278.69 million) during the reporting period, accounting for 42.5 percent of total insurance payments made by all enterprises.
Pasha Insurance came in second with total payments totaling 269.49 million manat or $159.5 million (23.96 percent of all payments), and Ateshgah Life Insurance came in third with 62.409 million manat or $36.7 million (5.63 percent).
Total payments of all insurance companies in Azerbaijan amounted to 1.108 billion manat ($651.7 million) from January through November 2023.
|
Insurance company |
Payments |
Share in total insurance payments (%) |
Ranking |
|
PASHA Life Insurance |
473.7 million manat ($278.6 million) |
42.75 |
1 |
|
PASHA Insurance |
269.4 million manat ($158.4 million) |
23.96 |
2 |
|
Ateshgah life |
62.4 million manat ($36.7 million) |
5.63 |
3 |
|
Qala Insurance Company |
53.6 million manat ($31.5 million) |
4.84 |
4 |
|
Ateshgah Insurance Company |
39.1 million manat ($22.9 million) |
3.53 |
5 |
|
Mega Insurance |
31 million manat ($18.2 million) |
2.80 |
6 |
|
State Insurance Company of the Azerbaijan Republic |
28.8 million manat ($16.9 million) |
2.60 |
7 |
|
Qala Life Insurance Company |
23.2 million manat ($13.6 million) |
2.09 |
8 |
|
Khalg Insurance |
20 million manat ($11.7 million) |
1.81 |
9 |
|
A-Group Insurance Company |
19.2 million manat ($11.2 million) |
1.73 |
10 |
|
TOTAL |
1.01 billion manat ($594.11 million) |
91.75 |
- |
In 2022, total collections of Azerbaijan's top ten insurance companies totaled 881.805 million manat ($518.7 million), accounting for 90.83 percent of overall insurance collections, while total collections of all Azerbaijan insurance businesses totaled 970.823 million manat ($571.07 million).