Azerbaijani insurance companies ranking for Jan.-Feb. 2014

Baku, Azerbaijan, March 19

By Emin Aliyev - Trend:

The following chart shows the ranking of 28 Azerbaijani insurance companies in terms of premiums collected in Jan.-Feb. 2014:

No.

Insurance companies

Premiums in Jan.-Feb. 2014 in Azerbaijani manats

1

Pasha Sıgorta

25 083 868.16

2

Ateshgah Heyat

12 849 939.5

3

Ipek Yolu Sigorta

7 408 613.91

4

Azerbaijan State Insurance Commercial Company Azersigorta

6 367 814

5

Qala Heyat

5 494 289

6

AzSigorta

5 291 574.13

7

Ateshgah

4 789 803.51

8

Pasha Heyat Sigorta

4 428 205.36

9

AXA MBASK

3 045 966.08

10

Beynelxalq Sigorta Shirketi

2 220 656.03

11

Standard Insurance

2 143 194.82

12

Xalq Sigorta

2 131 509.78

13

Mega Sigorta

1 966 685.5

14

Azerbaycan Senaye Sigorta

1 337 220.5

15

AtaSigorta

1 251 935.15

16

A-Qroup Sigorta Shirketi

1 202 022.5

17

Buta Sigorta

907 221.2

18

Qarant Sigorta

807 675

19

Alfa Sigorta

731 383.84

20

Bashak İnam Sigorta Shirketi

667 452.76

21

Revan Sigorta

444 480.51

22

Baki Sigorta

404 416.39

23

Azerqarant Sigorta

300 120.16

24

Emrah Sigorta

134 045.31

25

Gunay Sigorta

97 521.29

26

Era Trans Sigorta

68 283.92

27

Chartis Azerbaycan

40 359

28

Royal Sigorta

151.98

TOTAL:

91 616 409.29

Pasha Sigorta leads the ranking in terms of insurance premiums collected in Jan.-Feb. 2014, according to the report of the State Insurance Supervision Service of the Azerbaijani Ministry of Finance published on its website. Some 28.4 percent of the total premiums collected during this period accounted for this company.

Ateshgah Heyat (14.3 percent of all premiums in the market) and Ipek Yolu Sigorta (8.09 percent) ranked second and third in the ranking respectively

The following chart shows the ranking of 28 insurance companies in terms of compensation paid in January-February 2014:

No.

Insurance companies

Compensation payments in Jan.-Feb. 2014, in Azerbaijani manats

1

"Pasha Sigorta

3933506.66

2

Ateshgah

2068822.23

3

Azerbaijan State Insurance Commercial Company Azersıgorta

1954979

4

AXA MBASK

1485884.91

5

AzSigorta

1459303.66

6

Standard Insurance

1130134.17

7

Ateshgah Heyat

1011894.58

8

A-Qroup Sigorta Shirketi

956563.48

9

Beynelxalq Sigorta Shirketi

931390.5

10

AtaSigorta

558620.36

11

Xalq Sigorta

525726.45

12

Azerbaycan Senaye Sigorta

444449.33

13

Qarant Sigorta

369619.97

14

Pasha Heyat Sigorta

361302.89

15

Buta Sigorta

356968.51

16

Alfa Sigorta

315945.22

17

Bashak İnam Sigorta Shirketi

304207.34

18

Baki Sigorta

297565.93

19

Mega Sigorta

179027.65

20

Revan Sigorta

165507.26

21

Era Trans Sigorta

70810.27

22

Emrah Sigorta

59034.42

23

Azerqarant Sigorta

44042.42

24

Gunay Sigorta

12805.75

25

Ipek Yolu Sigorta

8902.63

26

Royal Sigorta

8313.97

27

Qala Heyat

1585

28

Chartis Azerbaycan

272

TOTAL:

19 017 186.56

Pasha Sıgorta is the market leader in terms of insurance compensation payments. From January-February the company paid around 3.93 million manats, or over 20 percent of all the compensation during the reporting period.

It is followed by Ateshgah with 2.09 million manats (almost 11 per ent of total payments) and Azersigorta with 1.95 million manats (10.25 percent).

The total amount of premiums of all insurance companies totalled 91.62 million manats in January-February, a 16.32 percent growth and compensation payments hit 19.02 million manats, a 17.33 percent growth.

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

The official exchange rate on March 19 is 0.7843 AZN/USD.

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