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Top-10 Azerbaijani insurers’ payments make over 92%

Business Materials 22 February 2018 15:06 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Anvar Mammadov – Trend:

Payment of insurance claims carried out by Azerbaijan’s 10 major insurance companies totaled 21.2 million manats in January 2018.

The figure accounts for 92.2 percent of the total amount in the period, said the Financial Market Supervisory Authority (FIMSA).

Insurance company

Payments in January 2018 (million manats)

Payments in January 2017 (million manats)

Market share of payments in January 2018 (%)

Market share of payments in January 2017 (%)

Ranking in January 2018

Ranking in January 2017

PASHA Insurance

4.87

3.76

21.2

14.1

1

2

Ateshgah Life

4.37

12.53

19

46.8

2

1

PASHA Life

3.81

3.56

16.6

13.3

3

3

Qala Life

3.26

1.45

14.2

5.4

4

4

Ateshgah

1.68

1.06

7.3

3.9

5

5

AXA MBASK

0.87

0.8

3.8

3

6

6

AzInsurance

0.69

0.8

3

3

7

7

AtaInsurance

0.61

0.21

2.6

0.8

8

12

AzerInsurance

0.58

0.68

2.5

2.5

9

8

A-Group

0.47

0.5

2

1.9

10

10

TOTAL

21.2

25.36

92.2

94.7

-

-

PASHA Insurance company ranks first in terms of the payment of insurance claims carried out in the period. The company accounts for 21.2 percent of the total amount. Payment of insurance claims carried out by PASHA Insurance reached 4.87 million manats in January 2018.

Premiums collected by Azerbaijan’s insurance companies totaled 82.76 million manats in January 2018 that is 17.02 percent more than in the same period of 2017. Payment of insurance claims totaled 22.99 million manats in the period that is 14.2 percent less than in the same period of 2017.

Twenty-one insurance companies operate in Azerbaijan.

(1.7001 manats = $1 on Feb. 22)

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