Azerbaijani insurance companies ranking for January-May, 2014

Baku, Azerbaijan, June 17

By Emin Aliyev - Trend:

The table below presents the ranking of 28 Azerbaijani insurance companies in terms of insurance premiums collected in January-May 2014.

No.

Insurance companies

Insurance premiums collected in January-May 2014, shown in AZN

1

Paşa Sığorta

31,029,789.94

2

Atəşgah Həyat

20,235,216.71

3

Paşa Həyat Sığorta

19,485,582.05

4

Azerbaijan State Insurance Commercial Company 'Azersigorta'

17,413,392.00

5

AzSığorta

15,108,209.10

6

Atəşgah Sığorta

12,440,419.04

7

Qala Həyat Sığorta

10,213,752.87

8

İpək Yolu Siğorta

8,690,131.26

9

AXA MBASK

7,896,978.22

10

Standard Insurance

7,595,014.48

11

International Insurance Company

6,332,216.77

12

Mega Sığorta

4,651,701.04

13

Azərbaycan Sənaye Sığorta

4,173,175.51

14

AtaSığorta

4,114,629.90

15

Xalq Sığorta

4,015,478.36

16

A-qroup Sığorta Şirkəti

2,707,319.71

17

Qarant Sığorta

2,345,734.01

18

Alfa Sığorta

1,789,876.61

19

Buta Sığorta

1,787,583.00

20

Basak İnam Sığorta Şirkəti

1,491,434.00

21

Rəvan Sığorta

1,210,498.88

22

Bakı Sığorta

1,137,908.75

23

Azerqarant Sığorta

315,164.16

24

Əmrah Sığorta

305,956.72

25

Era Trans Sığorta

285,514.97

26

Günay Sığorta

97,081.29

27

Çartis Azərbaycan

39,186.21

28

Royal Sığorta

2,254.84

TOTAL:

186,911,200.40

Pasa Sıgorta leads the ranking in terms of insurance premiums collected in January-May 2014, according to a report from the State Insurance Supervision Service of Azerbaijani Finance Ministry.

Over 16.6 percent of the total premiums collected during this period accounted for this company.

Atesgah Heyat (10.83 percent of all premium collections) and Pasa Heyat Sigorta (10.43 percent) ranked second and third in the ranking respectively

The chart below presents the ranking of 28 insurance companies in terms of compensations paid in January-May, 2014:

No.

Insurance companies

Compensations paid in January-May, 2014 (shown in AZN)

1

Pasa Sıgorta

11,066,826.25

2

Azerbaycan Senaye Sıgorta

6,256,324.37

3

Atesgah Sıgorta

5,568,914.42

4

Azerbaijan State Insurance Commercial Company 'Azersigorta'

5,388,759.00

5

AzSıgorta

3,768,689.74

6

AXA MBASK

3,739,994.11

7

Standard Insurance

2,695,350.86

8

A-Qroup Sıgorta Sirketi

2,636,807.60

9

International Insurance Company

2,473,303.49

10

Atesgah Heyat

1,899,346.39

11

AtaSıgorta

1,377,988.58

12

Xalq Sıgorta

1,339,054.39

13

Buta Sıgorta

1,036,712.24

14

Qarant Sıgorta

991,027.08

15

Bakı Sıgorta

987,363.94

16

Pasa Heyat Sıgorta

913,788.05

17

Alfa Sıgorta

882,521.22

18

Basak Inam Sıgorta Sirketi

657,039.95

19

Mega Sıgorta

494,363.40

20

Revan Sıgorta

436,824.07

21

Emrah Sıgorta

208,261.17

22

Era Trans Sıgorta

166,631.31

23

Qala Heyat Sıgorta

103,115.96

24

Azerqarant Sıgorta

47,418.62

25

Ipek Yolu Sigorta

40,422.08

26

Gunay Sıgorta

26,116.16

27

Royal Sıgorta

8,313.97

28

Çartis Azerbaycan

272.00

TOTAL:

55211550.42

Pasa Sıgorta is the market leader in terms of insurance compensation payments as well. Between January and May, 2014 the company paid 11.07 million AZN.

It is followed by Azerbaycan Senaye Sıgorta (with payments totaling 6.27 million AZN) and Atesgah Sigorta (with payments at 5.57 million AZN).

Between January and May, the total amount of collected premiums of insurance companies operating in Azerbaijan stood at 186.9 million AZN, or 10.8 percent (18.2 million AZN) more than the figures for the same period of 2013.

The compensations paid by the insurance companies in the first five months of 2014 amounted to 55.2 million AZN, or 13 percent (6.3 million AZN) more than the figures for January-May, 2013.

The licenses of Royal Sıgorta and Gunay Sıgorta insurance companies were suspended in line with a decision, taken by Azerbaijani Finance Ministry on February 24.

Six months were allocated in accordance with the insurance legislation's requirements to address the shortcomings in these companies' activities, which caused the suspension of their licenses.

Royal Sigorta and Gunay Sigorta will be able to reinstate their licenses if they align their aggregate capital with Finance Ministry's minimum requirement.

The minimum amount of total capital of insurers, operating in the non-life insurance sector, is set at the level of five million AZN.

The only reinsurance company AzRe's statistical indices are not shown in the Azerbaijani Finance Ministry's report.

The official exchange rate on June 17 is 0.7843 AZN/USD.

Edited by CN

International programmatic ecosystem Admixer continues to develop on Georgian market
International programmatic ecosystem Admixer continues to develop on Georgian market
Turkmenistan working to digitalize consular service
Turkmenistan working to digitalize consular service
US-based IT Company EPAM  announces 14 vacancies in Georgia
US-based IT Company EPAM announces 14 vacancies in Georgia
Loading Bars
Latest
Iran reveals its COVID-19 data for October 31
Uzbekistan’s 9M2020 carpet export down
Georgian CEC reveals voter turnout by 15 p.m.
Weekly review of Azerbaijan's precious metals market
Iran increases value of exports via Kerman Province
17 religious monuments damaged as result of Armenian aggression, including churches - Vusal Gasimli
Azerbaijani president's aide says Armenia shelled civilian districts even during Geneva meetings
Azerbaijani army destroys military equipment, manpower of Armenian Armed Forces (VIDEO)
Armenian Armed Forces continue shelling Azerbaijani settlements - Defense Ministry
Azerbaijan confirms 547 more COVID-19 recoveries
President Ilham Aliyev expresses condolences to President Erdogan
Azerbaijan only restoring its territorial integrity, top official says
UzAuto Motors eyes expanding financing opportunities by issuing Eurobonds
Iran implements new limitations to prevent COVID-19
Georian CEC introduces media with the information about voter turnout for 12:00
Armenia deliberately burns down forests in Shusha - Azerbaijani president's aide
Tehran city council calls for extending lockdown
Uzbekistan int’l consulting organizations to transform large state-owned enterprises
Iran to inject new foreign currency package
VTB Bank (Azerbaijan) completes 9 months with profit
Military conflict in Karabakh drives Armenia to dead end - Russian edition
President Ilham Aliyev expresses condolences to Berna Yilmaz.
Drilling operations in Iran's South Pars gas field to begin soon
Weekly review of Azerbaijani currency market
Russia warns Armenia about ban on import of tomatoes
Azerbaijani oil prices down
Russia responds to Pashinyan's appeal
Inflation coming down in Georgia - Finance Minister
Voting process at Georgian polling stations ongoing in peaceful environment - CEC
Kazakhstan’s KazTransOil opens tender for equipment repair services
Azerbaijani association talks importance of OSAGO insurance in country
Iran’s NICICO boosts its production
More people rescued from rubble in Turkish Izmir
Captured Armenian cleric admits his forced involvement in Karabakh clashes (VIDEO)
Azerbaijani president's aide voices his concern over tortures against old woman
Azerbaijani 'A Audit and Consulting' LLC talks about slowdown in audit services' dev't
Armenia delivering phosphorus cargo to Khojavend creating basis for further provocations - MoD
Long term loans value surges in Kazakhstan year-on-year
Uzbekneftegaz announces tender for turboexpander unit supply
Voting in parliamentary elections in Georgia continues normally - Arzu Nagiyev (PHOTO)
Iran and Russia reach to agreement on construction of thermal power plant
Azerbaijani FM forwards his condolences to Turkish people due to Izmir earthquake
Ukraine reports record daily high new coronavirus cases
Uzbek oil and gas production dep’t announces tender for feasibility studies
Loan portfolio of Azerbaijan AFB Bank grows
Elections proceeding peacefully, no serious violations so far in Georgia - Interior Ministry
President Ilham Aliyev interviewed by German ARD TV channel (PHOTO)
Uzbek-Korean Uz-Kor Gas Chemical to buy radiant tubes via tender
Uzbekistan’s Ministry of Innovative Development to buy light vehicles via tender
South Korean companies invited to enter Turkmen market more actively
Azerbaijani FM, ICRC Director General meet to discuss current situation in Karabakh
Armenia's barbaric crimes tantamount to actions of fascists - Mikhail Zabelin (PHOTO)
Reports about shelling of Shusha by Azerbaijani army - another lie, MoD says
Azerbaijan's largest loans share falls on household sector
Azerbaijan's PM meets Pakistani ambassador
Armenian reports on missile attack on Khankendi by Azerbaijani army - lie, says MoD
Azerbaijan develops website to fight spread of Armenian fake news
Presence of PKK terrorists in ranks of Armenian Armed Forces - fact, says aide to Azerbaijani president
Iran reveals value of fishery products exported from Gilan Province
Turkmen MFA opens tender for supply of technical equipment
October conscription for active military service ends in Azerbaijan
Georgia reports 1,673 new coronavirus cases
Uzbekistan reveals its COVID-19 data for October 31
Georgia decreases export to Kazakhstan amid COVID-19
Turkmenistan, Denmark's Haldor Topsoe continue discussions on gasoline plant construction
Azerbaijani-Iranian border outposts reopen after being liberated from Armenian occupation
Some international organizations silent on crimes committed by Armenia - expert
Another earthquake strikes Turkish Izmir Province
Prime Minister of Georgia votes in parliamentary elections
Iran's per capita income declines
Turkmenistan considers opportunities to attract investment to Caspian Sea
Azerbaijani, Georgian experts discuss issues on agenda via teleconference (VIDEO)
Turkmenistan improves transport infrastructure
Iranian currency rates for October 31
Armenian Armed Forces fire at Azerbaijani Aghjabadi district's village
Georgian President Salome Zourabichvili votes at parliamentary elections
Local and international election observer organizations monitor parliamentary elections in Georgia
Parliamentary elections being held with new election system in Georgia
Parliamentary Elections being held in Georgia
Azerbaijani products to be showcased at int’l exhibition in Shanghai
Azerbaijan's income from sales of pharmaceutical products increases
Propylene production grows in Azerbaijan
Azerbaijan investing in alternative energy dev't
Azerbaijan denies accusations on use of weapons prohibited by international law
Azerbaijani army fires back at Armenia firing points, which shelled Gubadli - MoD
Latest situation on battlefield on October 31
Azerbaijani Defense Ministry lists Armenian military equipment destroyed
Azerbaijani Tartar, Aghdam, and Aghjabedi districts come under artillery fire
Brazil's COVID-19 cases top 5.5 million with 159,477 deaths
24 dead in Izmir as magnitude 6.6 quake shakes Turkey’s west coast (UPDATE)
U.S. says Iranian hackers behind threatening emails accessed voter data
Israel's COVID-19 cases up by 587, tally reaches 313,701
Trump derides doctors as COVID surges, Biden says Trump 'giving up' on virus
Protesters clash with police over COVID-19 restrictions in Barcelona
U.S. COVID-19 cases surpass 9 mln -- Johns Hopkins University
COVID-19 remains public health emergency of international concern: WHO
Meeting of Jeyhun Bayramov with OSCE MG Co-Chairs and Armenian FM ends
Azerbaijan, Armenia reach new agreements following talks in Geneva
First Vice-President Mehriban Aliyeva offered condolences to relatives and loved ones of those killed as a result of earthquake in Izmir (PHOTO)
Azerbaijani army does not fire at civilians - MoD
All news