Baku, Azerbaijan, Nov. 25
By Abbas Akhundov - Trend:
The Finance Ministry of Azerbaijan has announced the operating results of the top 10 insurance companies for January-October. Over 75 per cent of the total insurance fees account for them.
At the moment some 28 insurance companies and one reinsurance company operate in Azerbaijan.
|
Insurance company |
Premiums for January- October, 2013 in mln. manat |
Premiums for January- October, 2012 in mln. manat |
Share of fees in market in January- October 2013, in per cent |
Share of fees in market in January- October 2012, in per cent |
Ranking in January-October 2013 |
Ranking in January-October 2012 |
|
Paşa Sığorta |
47.36 |
38.48 |
14.03 |
13.64 |
1 |
1 |
|
AzSığorta |
35.57 |
33.15 |
10.53 |
11.75 |
2 |
2 |
|
Azerbaijan Republic State Insurance Commerce Company Azərsığorta |
33.05 |
25.45 |
9.79 |
9.02 |
3 |
4 |
|
Atəşgah |
30.66 |
30.49 |
9.08 |
10.81 |
4 |
3 |
|
Paşa Həyat Sığorta |
28.38 |
12.46 |
8.4 |
4.42 |
5 |
9 |
|
Atəşgah Həyat |
20.46 |
14.47 |
6.06 |
5.13 |
6 |
7 |
|
İPƏK YOLU SIĞORTA |
15.93 |
8.17 |
4.72 |
2.89 |
7 |
12 |
|
Standard Insurance |
15.67 |
18.3 |
4.64 |
6.49 |
8 |
5 |
|
AXA MBASK |
14.48 |
15.61 |
5.53 |
5.32 |
9 |
6 |
|
Beynəlxalq Sığorta Şirkəti |
11.75 |
12.6 |
3.48 |
4.47 |
10 |
8 |
|
Total |
253.31 |
209.18 |
75.03 |
73.94 |
- |
- |
Pasha Sıgorta JSC led the ranking on insurance fees as in the previous months which accounted for 14.03 per cent of premiums collected by all the companies in January-October.
AzSığorta (10.53 per cent of all collections of the market) and Azerbaijan Republic State Insurance Commerce Company Azərsığorta (9.79 per cent), ranked second and third respectively.
In September, the TOP-10 included two companies that have the right to engage in life insurance in Azerbaijan - Atəşgah Həyat and Paşa Həyat. Azerbaijan today has three life insurance companies that are licensed to provide services of this kind, namely Atəşgah Həyat, Qala Həyat and Paşa Həyat.
The total premiums amounted to 303.38 million manat in January-October 2013, a 19.67 per cent increase over the year and claims in this period hit 98.97 million manat, a 31.16 per cent increase.
The Azerbaijani Finance Ministry's report did not include the figures from the only reinsurance company AzRE.
The official exchange rate on Nov.25 is 0.7843 AZN/USD.