Baku, Azerbaijan, Nov. 23
By Anvar Mammadov – Trend:
Premiums collected by Azerbaijan’s 10 major insurance companies totalled 360.33 million Azerbaijani manats (1.7146 AZN/USD on Nov. 23) in January-October 2016, said the Financial Market Supervisory Authority.
The figure accounts for 85.7 percent of all the insurance premiums collected during the period.
In January-October 2016, all the 25 insurance companies in Azerbaijan collected 420 million manats in premiums, which is 11 percent more than in the same period of 2015.
|
Insurance company |
Premiums in January-October 2016, million manats |
Premiums in January-October 2015, million manats |
Market share of premiums in January-October 2016, % |
Market share of premiums in January-October 2015, % |
Ranking in January-October 2016 |
Ranking in January-October 2015 |
|
PASHA Insurance |
89.52 |
57.5 |
21.3 |
18.67 |
1 |
1 |
|
PASHA Life |
66.98 |
47.99 |
15,93 |
15.58 |
2 |
2 |
|
AzerInsurance |
37.99 |
36.52 |
9.04 |
11.86 |
3 |
4 |
|
Ateshgah Insurance |
32.14 |
37.6 |
7.65 |
12.21 |
4 |
3 |
|
Ateshgah Life |
30.34 |
32.72 |
7.22 |
10.62 |
5 |
5 |
|
Qala Life |
27.89 |
17.82 |
6.63 |
5.79 |
6 |
7 |
|
AzInsurance |
19.28 |
27.53 |
4.59 |
8.94 |
7 |
6 |
|
Mega Insurance |
19.13 |
16.17 |
4.55 |
5.25 |
8 |
10 |
|
AXA MBASK |
18.55 |
15.14 |
4.41 |
4 |
9 |
- |
|
Silk Way Insurance |
18.5 |
16.71 |
4.40 |
5.42 |
10 |
9 |
|
Total |
360.33 |
308.03 |
85.7 |
81.29 |
- |
- |
Pasha Insurance continues to lead the ranking in terms of the premiums collected during the period. The company’s share of the total collected premiums was 21.3 percent.
Pasha Life ranked the second in the list with 15.93 percent, being followed by AzerInsurance, the share of which was 9.04 percent.
Payments of claims by the Azerbaijani insurance companies reached 191 million manats during the period, which is 36 percent more than in January-October 2015.