Baku, Azerbaijan, May 21
By Azad Hasanli – Trend:
Payment of insurance claims carried out by Azerbaijan’s 10 major insurance companies totaled 72.9 million manats in January-April 2018.
The figure accounts for 92.87 percent of the total amount in the period, said the Financial Market Supervisory Authority (FIMSA).
|
Inurance company |
Payments in January- April 2018 (million manats) |
Payments in January-April 2017 (million manats) |
Market share of payments in January- April 2018 (%) |
Market share of payments in January- April 2017 (%) |
Ranking in January- April 2018 |
Ranking in January- April 2017 |
|
PASHA Life |
18.34 |
10.1 |
23.36 |
13.4 |
1 |
3 |
|
PASHA Insurance |
17.9 |
10.28 |
22.8 |
13.65 |
2 |
2 |
|
Ateshgah Life |
7.8 |
23.6 |
9.9 |
31.3 |
3 |
1 |
|
Qala Life |
6.4 |
4.9 |
8.1 |
6.5 |
4 |
5 |
|
Ateshgah |
6.36 |
4.9 |
8.1 |
6.5 |
5 |
4 |
|
AzerInsurance |
5.05 |
4.4 |
6.4 |
5.8 |
6 |
6 |
|
AXA MBASK |
3.2 |
3.27 |
4.08 |
4.34 |
7 |
7 |
|
AzInsurance |
3.02 |
2.59 |
3.2 |
3.44 |
8 |
8 |
|
AtaInsurance |
2.5 |
1.1 |
3.18 |
1.46 |
9 |
13 |
|
A-Group |
2.24 |
2.5 |
2.86 |
3.3 |
10 |
9 |
|
Total |
72.9 |
69.06 |
92 |
89.69 |
- |
- |
PASHA Life company ranks first in terms of the payment of insurance claims carried out in the period. The company made 23.36 percent of the total amount. Payment of insurance claims carried out by PASHA Life reached 18.34 million manats in January-April 2018.
PASHA Insurance was ranked the second with total payments of 17.9 million manats (about 22.8 percent of all payments), and Ateshgah Life become the third with payments of 7.8 million manats (9.9 percent).
Premiums collected by Azerbaijan’s insurance companies totaled 301.4 million manats in January-April 2018 that is 55 percent more than in the same period of 2017. Payment of insurance claims totaled 78.5 million manats in the period that is 4.25 percent more than in the same period of 2017.
The report does not include the activities of the only reinsurance company AzRe.
Twenty-one insurance companies operate in Azerbaijan.
(1.7 manats = $1 on May 21)
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Follow the author on Twitter: @AzadHasanli