...

Azerbaijan ranks nation's insurers by collections for 2M2024

Economy Materials 28 March 2024 18:56 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, March 28. The total collections of 10 leading insurance companies (ICs) in Azerbaijan amounted to 228.2 million manat ($134.25 million), or 95.21 percent of the total insurance collections from January through February 2024, Trend reports.

According to the Central Bank of Azerbaijan (CBA), PASHA Insurance ranked first in terms of insurance collection volume during the reporting period, accounting for 37.84 percent of total collections. The company's collections for the reporting period totaled 90.7 million manat ($53.35 million).

PASHA Life Insurance was ranked second with total insurance collections of 81.3 million manat or $47.8 million (33.95 percent of all collections), and Ateshgah Life Insurance was third with collections of 12.4 million manat or $7.3 million (4.79 percent).

The total collections of all insurance companies in Azerbaijan from January through February 2024 were 239.7 million manat ($141 million).

Insurance OJSC

Collections

Market share by collections volume, %

Ranking position

Pasha Insurance 90.7 million ($53.35 million) 37.84 1
Pasha Life Insurance 81.39 million ($47.9 million) 33.95 2
Ateshgah Life Insurance 12.47 million ($7.3 million) 5.20 3
Qala Insurance 9.26 million ($5.4 million) 3.87 4
Ateshgah Insurance 8.18 million ($4.8 million) 3.41 5
Agrar Insurance 7.06 million ($4.15 million) 2.94 6
Mega Insurance 6.86 million ($4.04) 2.86 7
Azerbaijan Industry Insurance 5.08 million ($2.99 million) 2.12 8
Qala Life Insurance 3.87 million ($2.27 million) 1.62 9
Khalg Insurance 3.33 million ($1.96) 1.39 10

TOTAL

228.2 million ($134.24 million) 95,21 -

Meanwhile, Azerbaijan's top ten ICs collected 1.1 billion manat ($647 million), or for 91.99 percent of overall insurance collections in 2023.

Tags:
Latest

Latest