Azerbaijani insurance companies’ activity ranking for 2013

Baku, Azerbaijan, Jan.16

By Emin Aliyev - Trend:

The following chart shows the ranking of 28 Azerbaijani insurance companies in terms of premiums collected in 2013:

No.

Insurance companies

Premiums in 2013 in Azerbaijani manats

1

Paşa Sigorta

53730447.59

2

AzSigorta

42101586.68

3

Azerbaijan State Insurance Commercial Company Azersigorta

40951681

4

Ateşgah

37488491.58

5

Paşa Heyat Sigorta

34966711.79

6

Ateşgah Heyat

23742171.69

7

Standard Insurance

18150048.17

8

AXA MBASK

17305470.37

9

İpek Yolu Sigorta

17127501.72

10

Beynelxalq Sigorta Şirketi

13446969.17

11

AtaSigorta

12539299.81

12

Azerbaycan Senaye Sigorta

12374112.15

13

A-Qroup Sigorta Şirketi

11098666.94

14

Xalq Sigorta

10892273.27

15

Meqa Sigorta

10430064.85

16

Qala Heyat

10066737.9

18

Buta Sigorta

7585770.5

18

Qarant Sigorta

7532220

19

Baki Sigorta

6220034.63

20

Alfa Sigorta

5653624.65

21

Başak İnam Sigorta Şirketi

4138411.69

22

Revan Sigorta

4061177.3

23

Azerqarant Sigorta

1118344.68

24

Çartis Azerbaycan

927605

25

Emrah Sigorta

800471.18

26

Era Trans Sigorta

710521.24

27

Günay Sigorta

383842.16

28

Royal Sigorta

128256.72

Total:

405 672 514.43

According to the report of the State Insurance Supervision Service of the Azerbaijani Ministry of Finance published on its website, Pasa Sıgorta leads the ranking in terms of insurance premiums collected in 2013. Some 13.24 per cent of the total premiums collected during this period accounted for this company.

AzSıgorta which holds10.38 per cent of all premiums in the market and the Azerbaijan State Insurance Commercial Company Azersıgorta standing at 10.1 per cent and are ranked second and third respectively.

The following chart shows the ranking of 28 insurance companies in terms of compensation paid in 2013:

No.

Insurance companies

Compensation payments in 2013. in Azerbaijani manats

1

Paşa Sigorta

27428655.22

2

Ateşgah

15242861.29

3

Azerbaijan State Insurance Commercial Company Azersigorta

13249160

4

AzSigorta

9421271.57

5

AXA MBASK

8231302.63

6

Standard Insurance

8197613.05

7

A-Qroup Sigorta Şirketi

6815478.65

8

Beynelxalq Sigorta Şirketi

5580557.73

9

Baki Sigorta

3699381.42

10

Xalq Sigorta

3398059.18

11

AtaSigorta

2909089.96

12

Ateşgah Heyat

2515397.66

13

Azerbaycan Senaye Sigorta

2393535.09

14

Buta Sigorta

2326078.64

15

Qarant Sigorta

2203597.09

16

Mega Sigorta

1854515.83

17

Başak İnam Sigorta Şirketi

1783294.79

18

Alfa Sigorta

1321597.6

19

Revan Sigorta

1129429.65

20

Paşa Heyat Sigorta

1046812.34

21

Emrah Sigorta

518156.64

22

Çartis Azerbaycan

412836

23

Era Trans Sigorta

362360.68

24

Qala Heyat Cemiyyeti

324052

25

Azerqarant Sigorta

276571.44

26

Günay Sigorta

84451.01

27

İpek Yolu Sigorta

73578.77

28

Royal Sigorta

4580.26

Total:

122 804 276.19

Pasha Sıgorta is the market leader in terms of insurance compensation payments. In 2013 the company paid almost 27.43 million manats, or over 22.3 per cent of all the compensation during the reporting period.

It is followed by Ateshgah with 15.24 million manats (12.41 per cent of total payments) and Azersıgorta with 13.25 million manats (over 10.79 per cent).

The total amount of premiums of all insurance companies totalled 405.68 million manats in 2013, a 18.44 per cent growth and compensation payments hit 122.8 million manats, a 30.83 per cent growth.

The only reinsurance company AzRe's statistical indices are not indicated in the report.

The official exchange rate on Jan.16 is 0.7845 AZN/USD.

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