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Top-10 of Azerbaijani insurance companies changes

Business Materials 15 July 2011 16:46

Azerbaijan, Baku, Ju ly 15 / Trend A.Akhundov /

The Azerbaijani Finance Ministry announced results of operations for January- June of the top ten insurance companies. About 69.45 percent of the total insurance charges and 7 7.14 percent of total payments accounted for them.

About 28 insurance companies operated in Azerbaijan that period and one reinsurance company.

Insurance company

Premiums for January- June, 2011 in million manats

Payments for January- June, 2011 in million manats

S hare of fees in terms in the market in January-June 2011 in percent

Premiums for January- June, 201 1 in million manats

Payments for January- June, 201 1 in million manats

Ranking in January- June 201 1

Ranking in January- May 201 1

Ranking in January- June 201 0

Azersıgorta

11 .8

5 .19

12 .01

11 .32

5 .08

1

1

1

"Atesgah" Sıgorta Sirketi

8 .07

2 .4

8 .21

6 .47

2 .53

2

3

3

"Azal Sıgorta"

6 .6

2 .77

6 .72

10 .67

0 .4

3

2

2

"AXA MBASK" Sı gorta Sirketi

6 .58

1 .36

6 .7

3 .46

1 .76

4

9

10

"AzSıgorta"

6 .46

1 .02

6 .57

5 .84

0 .53

5

6

4

"Pasa He yat Sıgorta"

6 .22

0 .,01

6 .33

-

-

6

4

-

"Beynelxalq Sıgorta Sirketi"

6 .16

2 .96

6 .27

5 .34

2 .52

7

5

5

"A-Qroup Sıgorta Sirketi"

5 .62

2 .68

5 .72

5 .01

2 .81

8

7

6

"Xalq Sıgorta"

5 .38

1 .08

5 .47

4 .39

0 .87

9

8

7

"Standard Insurance" Sıgorta Sirketi

5 .36

1 .15

5 .45

4 .17

0 .96

10

10

8

Total

68 .25

20 .63

69 .45

56 .67

17 .46

-

-

-

The only state-owned commercial insurance company JSC "Azersıgorta" in June preserved its leadership in terms of premiums, demonstrating the growth rate of insurance premiums, compared to January- May 2011, at 5 .73 percent, or 0.64 million manat.

Only Pasa Heyat Sıgorta of three companies engaged in life insurance entered top ten insurance companies. The company increased the volume of premiums by 0.1 million manat in June, or by 1.63 percent, and ranked sixth.

There are only three life insurance companies Atesgah Heyat, Qala Heyat and Pasha Heyat in Azerbaijan, which are licensed to provide services for compulsory insurance and disability resulting from occupational diseases and accidents at work .

Structure of the ten leading insurance companies was not changed during the month.AXA MBASK ranked fourth ( 50.9-percent-increase) .

The total premiums amounted to 98. 276 million manat in the first six months (2 7.83 percent-increase per year) and payments during the reporting period hit 2 6. 742 million manat (1 8.9-percent increase).

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

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