Baku, Azerbaijan, March 24
By Anvar Mammadov – Trend:
Premiums collected by Azerbaijan’s 10 major insurance companies totaled 119.34 million manats in January-February 2018, said the Financial Market Supervisory Authority (FIMSA).
The figure accounts for 91.55 percent of total insurance premiums collected during the reporting period.
|
Insurance company |
Premiums collected in January-February 2018, million manats |
Premiums collected in January-February 2017, million manats |
Market share of premiums in January-February 2018, % |
Market share of premiums in January-February 2017, % |
Ranking in January-February 2018 |
Ranking in January-February 2017 |
|
PASHA Insurance |
49.45 |
44.23 |
38.0 |
42.62 |
1 |
1 |
|
PASHA Life |
32.45 |
12.55 |
24.93 |
12.09 |
2 |
2 |
|
SilkWay Insurance |
6.57 |
7.29 |
5.05 |
7.02 |
3 |
3 |
|
Ateshgah Life |
6.25 |
4.64 |
4.8 |
4.47 |
4 |
6 |
|
Mega Insurance |
5.65 |
4.24 |
4.34 |
4.09 |
5 |
8 |
|
Ateshgah Insurance |
5.35 |
5.08 |
4.11 |
4.9 |
6 |
4 |
|
AXA MBASK |
4.2 |
4.55 |
3.23 |
4.38 |
7 |
7 |
|
AzerInsurance |
3.65 |
5.07 |
2.8 |
4.89 |
8 |
5 |
|
Qala Insurance |
3.07 |
2.54 |
2.36 |
2.45 |
9 |
12 |
|
AtaInsurance |
2.71 |
1.34 |
2.08 |
1.29 |
10 |
13 |
|
Total |
119.34 |
91.55 |
91.69 |
88.2 |
- |
- |
PASHA Insurance company ranks first in terms of the premiums collected in January-February 2018 with a share of 38 percent in the total amount. PASHA Life ranks second in the list with 24.9 percent and is followed by SilkWay Insurance – 5.1 percent.
TOP-10 in terms of insurance premiums includes two of the three companies that have the right to engage in life insurance in Azerbaijan - Ateshgah Life and PASHA Life.
Premiums collected by Azerbaijan’s insurance companies totaled 130.2 million manats in January-February 2018 that is 25.4 percent more than in the same period last year. Payment of insurance claims totaled 40.5 million manats in the reporting period that is 7.7 percent more than in January-February 2017.
The report does not take into account results of the activities of the only reinsurance company AzRe.
Twenty-one insurance companies operate in Azerbaijan.
(1.7 manats = $1 on March 24)