Azerbaijani Microfinance Organizations Association helps attracting investments to leasing market

Azerbaijan, Baku, Nov.21 / Trend A.Akhundov /

The Azerbaijani Finance Ministry announced the results of a compilation of the top 10 insurance companies for January-October, 2011. More than 80 per cent of the total insurance claims were accounted by them.

Of note is the fact that 28 insurance companies and one reinsurance company operated in Azerbaijan during that period. Insurance company Fidan Sıgorta's operating licence was temporarily suspended.

Insurance company

Premiums for January-October 2011, in million manat

Premiums for January-October 2010, in million manat

Share of claims in market in January-October 2011, in per cent

Share of claims in market in January-October 2010, in per cent

Ranking in January-October 2011

Ranking in January-September 2011

Ranking in January-October 2010

State commercial insurance company

9.01

8.79

18.57

21.3

1

1

1

Ipek Yolu Sıgorta

6.13

0.51

12.63

1.24

2

5

16

Atesgah

4.95

4.31

102

10.44

3

3

4

Beynelxalq Sigorta Sirketi

4.87

4.38

10.04

10.61

4

2

3

A-Qroup Sigorta Sirketi

4.15

4.47

8.55

10.83

5

4

2

AXA MBASK

2.75

3

5.67

7.27

6

6

5

Xalq Sigorta

2.1

1.46

4.33

3.54

7

8

9

Standard Insurance

2.07

1.68

4.27

4.07

8

7

8

Paşa Sigorta

1.9

1.93

3.92

4.68

9

9

7

Azerbaycan Senaye Sigorta

1.67

1.25

3.44

3.03

10

10

11

TOTAL

39.6

31.78

81.62

77.01

-

-

-

The only state-owned commercial insurance company Azersıgorta gained its leadership in terms of claims in October. Insurance company İpək Yolu Sığorta, previously called Azal Sığorta, rose from fifth position to second during the month. Listing of the 10 leading insurance companies did not undergo essential changes in terms of the amount of claims during the month.

In October, TOP-10 included only one company with the right to deal with life insurance in Azerbaijan Atesgah Heyat, whilst in September the list also included Pasa Heyat, which ranked 11 in terms of claims (7.5 million manat.)

There are three life insurance companies in Azerbaijan with a licence to provide life insurance services, namely Atesgah Heyat, Qala Heyat and Pasa Heyat.

The total premiums amounted to 179.097 million manat in the first 10 months (37.45 per cent increase per year) and claims in this period hit 48.53 million manat (17.59 per cent increase).

The Azerbaijani Finance Ministry's report for January-September did not include the figures of the only reinsurance company AzRE.

The official exchange rate is 0.7865 manat/$1 on Nov.21.

Certain revengeful forces raising their heads should know that iron fist remains in place - Azerbaijani president
Certain revengeful forces raising their heads should know that iron fist remains in place - Azerbaijani president
During war, they wanted to introduce sanctions against us - President Aliyev
During war, they wanted to introduce sanctions against us - President Aliyev
War Trophy Park in Baku illustrating aggressive nature of Armenia
War Trophy Park in Baku illustrating aggressive nature of Armenia
Loading Bars
Latest
Certain revengeful forces raising their heads should know that iron fist remains in place - Azerbaijani president
Iran and Russia extend bilateral cooperation
During war, they wanted to introduce sanctions against us - President Aliyev
Russia records over 8,300 daily COVID-19 cases
War Trophy Park in Baku illustrating aggressive nature of Armenia
Value of Russian imports of Turkish ready-made clothes disclosed
EU to borrow around 150 billion euros annually for recovery fund
Azerbaijan’s average compliance with OPEC+ deal up - IEA
US imports of Turkish electrical goods grow in value
Moody’s discloses forecast on growth of Azerbaijan's economy for next 3 years
President Aliyev on transfer of Irevan to Armenia: I condemned this decision, we should not obscure history
I have been saying that second Armenian state will never be created in our lands - Azerbaijani president
Baku Military Trophy Park - message for revenge seekers, says Azerbaijani expert (VIDEO)
I did not yield an inch on Karabakh issue - Azerbaijani president
Axpo expanding its business in renewable energies
In 2003, scum of PFPA-Musavat tandem attempted military coup, but it did not work - President Aliyev
I promised that I would defend territorial integrity, and I kept my word - President Aliyev
Army with 10,000 deserters is a disgrace - President Aliyev
Czech Republic interested in number of areas of Turkmenistan
Azerbaijani president about PFPA-Musavat tandem: In order to save themselves, they had to turn to Heydar Aliyev
Georgian Deputy Finance Minister comments IMF forecasts for Georgia
Iran reveals COVID-19 data for April 14
Number of job seekers from Turkey in Germany decreased
Azerbaijani banks showing great interest in attracting funds via swap method
Defense minister at time promised that if Shusha was surrendered, he'd shoot himself - President Aliyev
Then leader of junta, Sargsyan, promised me to return our lands in aftermath of that bitter defeat - President Aliyev
Heydar Aliyev was main target for Armenians of world - Azerbaijani president
Everyone visiting Military Trophy Park will see strength of our army - Azerbaijani president
We won an unprecedented victory - President Aliyev
Uzbekistan to double trade volume with neighboring countries
Iran's polyethylene exports rise (UPDATE)
South Africa says downpayments to J&J, Pfizer not refundable
EasyJet sees Europe open for travel from late May
Iran’s GTC continues to purchase wheat from farmers
Azerbaijan boosts electricity production volume
Uzbekistan to finance investment projects in Tashkent city
Natanz incident not to hamper Iran's efforts to revive JCPOA - former MP
Iran to pursue expansion of housing
Iran's Atomic Organization discusses enrichment of uranium
Iran to return to JCPOA after other parties fulfill commitments - President Rouhani
Azerbaijan developing transit trade by using advanced int'l experience
Georgian international airports see decrease in passenger traffic
AzeriCard processing center to suspend payment operations in Azerbaijan due to service update
Czech Republic plans to increase volume of mutual trade with Turkmenistan
Turkey's defense industry developing even better despite import sanctions
IMF shares outlook on Azerbaijan's natural gas export for 2021-2022
Georgia reports 1,085 coronavirus cases for April 14
Hungarian Wizz Air to return to Georgian aviation sector
Investments in Kazakhstan's fixed assets down
Unique for Central Asia tourist complex launched in Kazakhstan
Azerbaijan Banks Association seeks to create special mobile banking platforms
Azerbaijan needs to ensure efficient online opening of bank accounts - ABA head
Russia allows supply of peppers, tomatoes from some Uzbek enterprises
Azerbaijani, Belarus presidents hold one-on-one meeting (PHOTO)
Uzbekistan, Germany discuss issues of co-op on transport sector
Sales of Iranian mining companies grow
GiLTEX welcomes customers in new Sumgayit shop (PHOTO)
Hungarian companies may take part in business forum on restoration of Azerbaijan's liberated lands
Kazakhstan's agriculture output surges over 1Q2021
Azerbaijani Central Bank to facilitate growth of countrywide mobile banking
Half of allocated for cotton land sown in Turkmenistan’s Mary region
Iran to create infrastructures in industrial parks of Qazvin Province
Azerbaijani insurance, financial companies eye to be integrated with ASAN Login
Uzbekistan, Saudi Arabia to expand co-op in tourism sector
Georgia preparing to place Eurobonds on London Stock Exchange
Georgia holds auction of thermal water company's privatization
Shares of Turkmenistan’s Senagat Joint-Stock Commercial Bank to be put on sale
Iranian energy minister talks about water, electricity facilities to be launched
Gold, silver prices rebound in Azerbaijan
Azerbaijan developing mobile platform for money transfers
Azerbaijani SOCAR names amount of recently realized investment projects
IMF expects Azerbaijan’s gas output to rise in 2021
Azerbaijan eyes expanding multimodal cargo transportation with Ukraine
UAE partners with Japan's iSpace to send rover to the moon in 2022
Activities of Iran’s Jask port expand
Iran boosts exports of agricultural products
Georgia aims to ensure sustainable development of wine industry
Turkish Energy Ministry prolongs TPAO's license for oil, gas exploration
Azerbaijani oil prices on the rise
Value of Azerbaijan's 1Q2021 imports of Turkish chemical products disclosed
Kazakhstan's revenues from transportation via pipelines down
Kazakh gas supply company to buy pipes via tender
Kazakhstan’s national postal service operator to buy construction materials via tender
Iran’s South Pars Gas Company reveals its production data
Azerbaijani MPs to leave for Russia
Kazakhstan’s Air Astana launching flights to Georgian Batumi
Iran discloses data of iron, non-alloy steel exports
Turkmenistan, Qatar interested in developing trade, economic ties
BP to conduct planned maintenance at Azeri-Chirag-Gunashli
IAI teams with Thales on missiles for British frigates
Azerbaijani currency rates for Apr.14
Foreign investments increase in Iran's industry, mine and trade sector
Indonesian e-commerce firm Bukalapak raises $234 million
Military Trophy Park in Baku to expose Armenia's unprecedented crimes - expert
Freight train derails in Turkey
Gasoline prices to rise amid expected growth in fuel demand
Hydrocarbons to supply half of world’s energy needs by 2050
Belarus expresses readiness to support Azerbaijan in restoration of liberated Karabakh (PHOTO)
Iranian currency rates for April 14
All sanctions against Iran should be lifted unconditionally, Russia says
All news