Baku, Azerbaijan, Sept. 23
By Anvar Mammadov – Trend:
Some 86.4 percent, or 307.8 million Azerbaijani manats (1.6292 AZN/USD on Sept. 23) of the total volume of insurance premiums collected in January-August 2016 accounted for ten major insurance companies in Azerbaijan, said a message from the country’s Financial Market Supervisory Body.
There are a total of 25 insurance companies in Azerbaijan.
|
Insurance company |
Premiums for Jan.-Aug 2016, in million manats |
Premiums for Jan.-Aug 2015, in million manats |
Share of payments in Jan.-Aug. 2016, percent |
Share of payments in Jan.-Aug. 2015, percent |
Ranking in Jan.-Aug. 2016 |
Ranking in Jan.-Aug. 2015 |
|
PASHA Insurance |
74.66 |
46.03 |
20.96% |
14.72% |
1 |
1 |
|
PASHA Life |
55.98 |
39.19 |
15.72% |
12.53% |
2 |
2 |
|
AzerInsurance |
35.47 |
27.88 |
9.96% |
8.91% |
3 |
4 |
|
Ateshgah Insurance |
27.46 |
32.74 |
7.71% |
10.46% |
4 |
3 |
|
Qala Life |
24.73 |
15 |
6.94% |
4.8% |
5 |
8 |
|
Ateshgah Life |
24.69 |
27.77 |
6.93% |
8.88% |
6 |
5 |
|
SilkWay Insurance |
17.82 |
15.35 |
5.00% |
4.9% |
7 |
7 |
|
Mega Insurance |
16.02 |
13.76 |
4.50% |
4.4% |
8 |
10 |
|
Standard Insurance |
16 |
14.01 |
4.49% |
4.48% |
9 |
9 |
|
AXA MBASK |
14.96 |
12.29 |
4.20% |
3.92% |
10 |
11 |
|
Total |
307.8 |
244.02 |
86.4 |
78% |
- |
- |
PASHA Insurance company, the share of which was 20.96 percent of the total volume of collected insurance premiums, ranked the first according to the results of January-August 2016.
The company is followed by PASHA Life Insurance – 15.72 percent of the market's total collections and AzerInsurance – 8.91 percent.
Ateshgah Life, Qala Life and PASHA Life companies, which are engaged in life insurance in Azerbaijan, are also in the top ten, said the message.
In January-August 2016, insurance companies in Azerbaijan collected 356.18 million manats in insurance premiums, which is 43.34 million manats (13.9 percent) more than the same period of 2015.
The insurance companies’ payments increased by 17.7 percent during the year and amounted to 136.77 million manats during the reporting period.