BAKU, Azerbaijan, February 26. The total payments of 10 leading insurance companies in Azerbaijan amounted to 35.7 million manat ($20.9 million) (96.17 percent of total insurance payments) in January 2024, Trend reports.
Following the results of the reporting period, the ranking on the volume of insurance payments was headed by Pasha Life Insurance, which accounted for 45.87 percent of the total insurance payments of all companies. The company made payments amounting to 17.7 million manat ($10.4 million) in January 2024.
The second position in the ranking was taken by Pasha Insurance with total payments amounting to 8.4 million manat ($4.9 million) (21.87 percent of all payments), and the third position was taken by Ateshgah Life Insurance with payments amounting to 3.4 million manat ($1.9 million) (8.97 percent).
Total payments of all insurance companies in Azerbaijan in the reporting period amounted to 38.7 million manat ($22.7 million).
|
Name of the Insurance Company |
Disbursements (in manat) |
Share by volume of payments in the market |
Ranking position |
| Pasha Life Insurance OJSC | 17,791,101 ($10.4 million) | 45,87 percent | 1 |
| Pasha Insurance OJSC | 8,481,718 ($4.9 million) | 21,87 percent | 2 |
| Ateshgah Life Insurance Company OJSC | 3,477,397 ($1.9 million) | 8,97 percent | 3 |
| Ateshgah Insurance Company OJSC | 1,343,340 ($764,000) | 4,94 percent | 4 |
| Khalg Insurance OJSC | 909,570 ($535,000) | 3,46 percent | 5 |
| A-Group Insurance Company OJSC | 898,744 ($528,686) | 2,35 percent | 6 |
| Mega Insurance OJSC | 882,352 ($518,836) | 2,32 percent | 7 |
| Aqrar Sıgorta OJSC | 876,575 ($515,309) | 2,28 percent | 8 |
| Qala Insurance Company OJSC | 719,161 ($422,953) | 2,26 percent | 9 |
| Azerbaijan Industry Insurance OJSC | 404,139 ($237,654) | 1,85 percent | 10 |
| TOTAL | 35,784,098 ($20.9 million) | 96,17 percent | - |
Meanwhile, the total payouts of the top 10 insurance companies in Azerbaijan amounted to 557.3 million manat ($327.8 million) (94.9 percent of the total insurance payouts) in 2023.
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