Baku, Azerbaijan, April 20
By Anvar Mammadov – Trend:
Premiums collected by Azerbaijan’s 10 major insurance companies totaled 177.37 million manats in January-March 2018, said the Financial Market Supervisory Authority (FIMSA).
The figure accounts for 91.8 percent of total insurance premiums collected during the reporting period.
The results of the insurance companies' activity during the first quarter of 2018:
|
Insurance company |
Premiums collected in January-March 2018, million manats |
Premiums collected in January-March 2017, million manats |
Market share of premiums in January-March 2018, % |
Market share of premiums in January-March 2017, % |
Ranking in January-March 2018 |
Ranking in January-March 2017 |
|
PASHA Insurance |
65.55 |
49.7 |
33.9 |
33.0 |
1 |
1 |
|
PASHA Life |
55.67 |
32.1 |
28.8 |
21.3 |
2 |
2 |
|
Ateshgah Life |
12.88 |
8.21 |
6.7 |
5.4 |
3 |
3 |
|
Mega Insurance |
10.12 |
4.85 |
5.2 |
3.2 |
4 |
9 |
|
Ateshgah Insurance |
8.42 |
7.37 |
4.4 |
4.9 |
5 |
5 |
|
SilkWay Insurance |
6.6 |
7.34 |
3.4 |
4.9 |
6 |
6 |
|
AXA MBASK |
5.47 |
6.37 |
2.8 |
4.2 |
7 |
7 |
|
AzerInsurance |
4.61 |
7.75 |
2.4 |
5.1 |
8 |
4 |
|
AtaInsurance |
4.24 |
2.3 |
2.2 |
1.5 |
9 |
14 |
|
AzInsurance |
3.81 |
5.14 |
2.0 |
3.4 |
10 |
8 |
|
Total |
177.37 |
131.12 |
91.8 |
87.0 |
- |
- |
PASHA Insurance company ranks first in terms of the premiums collected in January-March 2018 with a share of 33.9 percent in the total amount.
PASHA Life ranks second in the list with 28.8 percent and is followed by Ateshgah Life – 6.7 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 193.12 million manats in January-March 2018 that is 28.2 percent more than in the same period last year.
Payment of insurance claims totaled 60.29 million manats in the reporting period that is slighly more than in January-March 2017.
The report does not the activities of the only reinsurance company AzRe.
Twenty-one insurance companies operate in Azerbaijan.
--
(1.7 AZN = 1 USD on April 20)
Follow the author on Twitter: @Anvar_Mammadov