Ranking of Azerbaijani insurance companies in first quarter

Azerbaijan, Baku, April 12 / Trend I.Khalilova /

The summary table of activities of 28 insurance companies in Azerbaijan in January-March 2012

Companies

Premiums for Jan-March 2012 in AZN

Claims for Jan-March 2012 in AZN

1

"A-Qroup Sıgorta sirkəti"

4 409 979,11

1 114 056,70

2

"AXA MBASK"

3 841 635,32

1 276 265,68

3

"Alfa Sıgorta"

1 286 129,50

297 113,61

4

"AtaSıgorta"

3 514 506,38

528 418,98

5

" Ateshgah Heyat "

6 784 528,05

127 915,80

6

" Ateshgah Sıgorta"

7 260 341,51

1 557 410,51

7

"AzSıgorta"

7 676 283,95

453 084,65

8

State commercial insurance company Azersıgorta

5 181 327,00

1 618 130,00

9

"Azerbaycan Senaye Sıgorta"

1 301 857,61

172 065,57

10

"Azerqarant Sıgorta"

550 833,64

152 472,75

11

"Bakı Sıgorta"

1 521 519,57

570 907,00

12

" Basak İnam Sıgorta"

696 369,12

201 617,52

13

"Beynelxalq Sıgorta sirketi"

3 870 085,48

1 457 446,62

14

"Era Trans Sıgorta"

411 465,16

113 380,00

15

"Gunay Sıgorta"

154 674,11

50 821,09

16

"Mega Sıgorta"

135 069,18

69 547,83

17

" Pasha Heyat Sıgorta "

1 247 249,35

96 587,69

18

" Pasha Sıgorta"

23 098 794,91

4 486 488,25

19

"Qala Heyat"

1 525 569,37

13 497,43

20

"Qarant Sıgorta"

1 761 192,69

357 963,22

21

"Revan Sıgorta"

576 097,23

236 452,41

22

"Standard Insurance"

1 413 662,46

200 763,49

23

"Temz Sıgorta Qrupu"

30 731,84

0,00

24

"Xalq Sıgorta"

2 577 299,51

530 018,20

25

"Chartis Azerbaijan"

447 286,05

0,00

26

" İPEK YOLU SIGORTA "

140 533,63

871 732,52

27

"Emrah Sıgorta"

206 478,83

75 540,93

28

"Royal Sıgorta"

16 050,57

0,00

TOTAL

81 637 551,13

16 629 698,45

SK Pasha Sıgorta led the ranking on insurance premiums which accounted for 28.3 percent of premiums collected by all companies in the first quarter. In March the company increased its premiums by another 1.5 million manat, though its share in total insurance premiums decreased by 8.3 percent compared to late February.

Such increase in premiums is due to the choice of Pasha Sıgorta as an insurer of State Oil Company of Azerbaijan (SOCAR) for voluntary health insurance.

The total amount of premiums of the all insurance companies hit 81.6 million manat in the first quarter of 2012 (an increase of 66.17 per cent over year) and claims hit 16.6 million manat (a 28.2-percent increase) during the reported period.

At the end of the reporting period, premiums of 17 insurance companies exceeded one million manat, that is, during March another four insurers achieved a figure of one million.

In February, State Insurance Supervision committee cancelled license of Fidan Sigorta insurance company, the effect of which was suspended in August last year.

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

The official exchange rate is 0.786 AZN to $1 on April 12.

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