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Azerbaijani insurance market ups by 37 percent in 2011

Business Materials 12 January 2012 18:03 (UTC +04:00)

Azerbaijan, Baku, Jan. 12 / Trend A.Akhundov/

The summary table of activities of 28 insurance companies in Azerbaijan in 2011:

Companies

Premiums for 2011, in AZN

Claims for 2011, in AZN

"A-Qroup Sıgorta Sirketi"

8 106 194,26

5 339 607,61

"AXA MBASK"

12 724 945,30

3 243 766,37

"Alfa Sıgorta"

3 053 665,87

537 935,24

"AtaSıgorta"

5 440 914,05

2 085 610,97

"Atesgah Heyat"

9 524 119,64

169 558,05

"Atesgah"

18 547 133,98

6 204 163,89

Azerbaijan Republic State Insurance Commerce Company

26 144 818,00

11 078 118,00

"Azerbaycan Senaye Sıgorta"

6 694 276,97

1 801 768,55

"Azerqarant Sıgorta"

1 282 358,46

312 702,55

"AzSıgorta"

20 787 634,92

1 978 378,11

"Bakı Sıgorta"

4 541 659,11

1 017 617,71

"Basak İnam Sıgorta Sirketi"

2 873 484,90

1 277 767,46

"Beynelxalq Sıgorta Sirketi"

12 408 505,98

5 687 401,71

"Cartis Azerbaycan"

1 604 090,35

15 086,89

"Era Trans Sıgorta"

1 805 916,94

914 234,74

"Emrah Sıgorta"

653 842,99

368 681,29

"Fidan Sıgorta"

274 651,60

206 421,77

"Gunay Sıgorta"

485 289,69

197 501,28

"Xalq Sıgorta"

8 752 308,79

2 594 470,52

"İpek Yolu Sıgorta"

21 580 749,82

8 975 702,06

"Qala Heyat"

4 759 673,39

43 274,42

"Qarant Sıgorta"

8 091 881,46

1 251 180,22

"Mega Sıgorta"

1 749 769,00

126 814,99

"Pasa Heyat Sıgorta"

8 185 106,06

180 855,42

"Pasa Sıgorta"

10 507 510,13

2 191 628,10

"Revan Sıgorta"

2 065 964,79

838 969,22

"Standard Insurance"

9 723 021,06

2 787 779,83

"Temz Sıgorta Qrupu"

612 495,00

140 113,94

TOTAL

212 981 982,51

61 567 110,91

Azerbaijan Republic State Insurance Commerce Company led the ranking on insurance premiums.

The total amount of premiums of all insurance companies hit 212.98 million manat in 2011 (36.89 - percent increase per year) and claims hit 61.57 million manat (14.38 -percent increase)

The licenses of Fidan Sıgorta insurance company was suspended for in August 2011 in accordance with the legislation for six months, so it has no right to conclude new contracts. They can only serve the existing contracts.

Only reinsurance company AzRe statistical indices are not indicated in the summary.

The official exchange rate is 0.7863 manat to $1.

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