BAKU, Azerbaijan, April 24. Total collections of 10 leading insurance companies in Azerbaijan amounted to 356.725 million manat ($209.84 million), or 95.6 percent of total insurance collections from January through March 2024, Trend reports.
According to the Central Bank of Azerbaijan (CBA), PASHA Life Insurance topped the ranking on the volume of insurance collections in the reporting period, accounting for 38.48 percent of collections. The company's collections amounted to 143.59 million manat, or $84.46 million.
PASHA Insurance took the second position in the ranking with total insurance collections of 115.945 million manat or $68.2 million (31.07 percent of all collections), and Qala Insurance ranked third with collections of 27.78 million manat or $16.3 million (7.45 percent).
Total collections of all insurance companies in Azerbaijan amounted to 373.14 million manat, or $21.95 million, from January through March 2024.
|
Insurance OJSC |
Collections, manat |
Market share by collections volume, % |
Ranking position |
| Pasha Life Insurance | 143.59 million ($84.46 million) | 34.48 | 1 |
| Pasha Insurance | 115.94 million ($68.2 million) | 31.07 | 2 |
| Qala Insurance | 27.78 million ($16.3 million) | 7.45 | 3 |
| Ateshgah Life Insurance | 22.64 million ($16.3 million) | 6.07 | 4 |
| Ateshgah Insurance | 12.25 million ($7.2 million) | 3.28 | 5 |
| Mega Insurance | 9.55 million ($5.6 million) | 2.56 | 6 |
| Agrar Insurance | 7.34 million ($4.3) | 1.97 | 7 |
| Azerbaijan Industry Insurance | 6.7 million ($3.95 million) | 1.8 | 8 |
| Khalg Insurance | 5.7 million ($3.36 million) | 1.53 | 9 |
| Qala Life Insurance | 5.2 million ($3.05) | 1.39 | 10 |
|
TOTAL |
356.725 million ($209.84 million) | 95.60 | - |
To note, the total collections of 10 leading insurance companies in Azerbaijan amounted to 1.124 billion manat, or 91.99 percent of the total insurance collections in 2023.