Top-10 of Azerbaijani insurance companies changed

Azerbaijan, Baku, Sept. 24 / Trend A.Akhundov /

The Azerbaijani Finance Ministry announced results of operations for January-August of the top ten insurance companies. About 78.32 percent of the total insurance charges and 81.3 percent of total payments fall to them. About 27 insurance companies operated in Azerbaijan that period and one reinsurance company.

Insurance company

Premiums for January-August, 2010 in million manats

Payments for January-August , 2010 in million manats

Premiums for January-August, 2009 in million manats

Payments for January-August , 2009 in million manats

Azersıgorta

17,00

7,02

18,89

9,03

Azalsıgorta

10,87

0,41

12,80

0,006

AzSıgorta

9,49

0,79

7,48

2,97

"Atesgah" Sıgorta

8,42

3,27

9,06

2,99

Beynelxalq Sıgorta Sirketi

7,08

3,48

9,22

2,44

PASA Sıgorta

7,08

1,59

7,81

1,30

Standard Insurance

5,37

1,23

5,66

2,23

MBASK Sıgorta

5,20

2,36

4,74

4,36

A-Qroup Sıgorta

5,19

3,82

5,12

2,82

Xalq Sıgorta

5,02

1,17

22,61

0,84

Total

80,72

25,14

103,39

28,98

Structure of the top five on insurance charges remained unchanged.

The PASA Sıgorta insurance company rose to the sixth position, increasing amount of insurance charges by over 2.5 million manat (in January-July PASA Sıgorta collected 4.52 million manat). A-Qroup Sıgorta and Xalq Sıgorta fell from the sixth to the ninth position and from the eighth to the tenth position.  MBASK rose from the last (tenth) to the eight position.

The amount of charges of the ten leading insurance companies in January-August 2010 decreased by 22.67 million manat or 21.92 percent compared to the same period of 2009.

The total premiums fell by 15.98 percent (the figure was 122.67 million in January-August 2009) and payments - by 8.89 percent (33.94 million manat).

The report of the Azerbaijani Ministry of Finance in January- August has not indicated the results of the only reinsurance company Az RE.

The official exchange rate is 0.8038 manat to $1 Sept. 24.

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