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Top-10 of Azerbaijani insurance companies on payments volume changes

Business Materials 18 December 2013 20:49
The Azerbaijani Finance Ministry announced results of operations of the top ten insurance companies for January-November.

Baku, Azerbaijan, Dec.18

By Emin Aliyev - Trend:

The Azerbaijani Finance Ministry announced results of operations of the top ten insurance companies for January-November. Over 82.95 percent of the total insurance payments accounted for them.

Some 28 insurance companies and one reinsurance company operated in Azerbaijan during that period.

Insurance company

Payments for January- November, 2013 in million manat

Payments for January- November, 2012 in million manat

Share of payments in market in January-November 2013 in percent

Share of payments in market in January-November 2012 in percent

Ranking in January- November 2013

Ranking in January- November 2012

Pasa Sıgorta

25.24

19.72

22.85

23.89

1

1

Atesgah

13.77

8.1

12.46

9.81

2

3

Azerbaijan Republic State Insurance Commerce Company

Azersıgorta

11.64

10.26

10.54

12.43

3

2

AzSıgorta

8.29

3.04

7.5

3.68

4

9

AXA MBASK

7.46

5.26

6.75

6.37

5

7

Standard Insurance

7.41

4.62

6.71

5.6

6

5

A-Qroup Sıgorta Sirketi

5.93

5.1

5.37

6.18

7

6

Beynelxalq Sıgorta Sirketi

5.4

5.99

4.89

7.26

8

4

Bakı Sıgorta

3.44

2.41

3.11

2.92

9

10

Xalq Sıgorta

3.06

2.0

2.77

2.42

10

12

Total

91.64

66.5

82.95

80.56

-

-

Pasa Sıgorta led the ranking on insurance payments as in the previous month, which accounted for nearly 23 percent of premiums paid by all companies in January-November. During the reporting period, the company paid around 25.24 million manat.

Atəşgah Sığorta with payments amounted to 13.77 million manat (12.46 percent of all collections of the market) and Azerbaijan Republic State Insurance Commerce Company Azərsığorta - 11.64 million manat (10.54 percent) ranked the second and third respectively.

The total premiums amounted to 368.88 million manat in January-November 2013 (17.86 percent increase in a year) and payments in this period hit 110.48 million manat (33.85 percent increase).

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

The official exchange rate on Dec.18 is 0.7844 AZN/USD.

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