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Top-10 of Azerbaijani insurance companies changes

Business Materials 29 September 2011 12:22
The Azerbaijani Finance Ministry announced results of operations of the top ten insurance companies for January-August, 2011.
Top-10 of Azerbaijani insurance companies changes

Azerbaijan , Baku, Sept. 29 / Trend A.Akhundov /

The Azerbaijani Finance Ministry announced results of operations of the top ten insurance companies for January-August, 2011. Some 80.9 percent of the total insurance claims accounted for them.

Some 28 insurance companies and one reinsurance company operated in Azerbaijan during that period. Insurance company Fidan Sıgorta's license for insurance activity was temporarily suspended.

Insurance company

Claims for January- August, 2011 in million manats

Claims for January- August, 2010 in million manats

Share of claims in market in January-August 2011 in percent

Share of claims in market in January-August 2010 in percent

Ranking in January- August 2011

Ranking in January- July 2011

Ranking in January- August 2010

Azersıgorta

7 . 17

7 . 02

19,74

22,7

1

1

1

AtesgahSıgorta Sirketi

4 . 05

3 . 27

11 . 15

10 . 58

2

3

4

Beynelxalq Sıgorta Sirketi

3 . 98

3 . 48

10 . 96

11 . 25

3

2

3

A-Qroup Sıgorta Sirketi

3 . 35

3 . 82

9 . 22

12 . 35

4

4

2

İpek Yolu Sıgorta

2 . 86

0 . 41

7 . 87

1 . 33

5

5

17

AXA MBASK

2 . 04

2 . 36

5 . 62

7 . 63

6

6

5

Pasa Sıgorta

1 . 58

1 . 59

4 . 35

5 . 14

7

7

6

Xalq Sıgorta

1 . 55

1 . 17

4 . 27

3 . 78

8

8

8

Standard Insurance

1 . 42

1 . 23

3 . 9

3 . 98

9

9

7

Azerbaycan Senaye Sıgorta

1 . 39

1 . 03

3 . 83

3 . 33

10

11

9

Total

29 . 4

25 . 76

80 . 9

82 . 07

-

-

-

The only state-owned commercial insurance company Azersıgorta preserved its leadership in terms of payments in August.

Listing of the ten leading insurance companies did not undergo essential changes in terms of an amount of claims during the month.

The total premiums amounted to 134.437 million manat in the first eight months (29.73 percent-increase per year) and claims in this period hit 36.318 million manat (17.46 -percent increase).

The Azerbaijani Finance Ministry's report for January to August did not include the figures of the only reinsurance company Az RE.

The official exchange rate is 0.7868 manat to $1 on Sept.29.

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