Baku, Azerbaijan, June 18
By Azad Hasanli – Trend:
Payment of insurance claims carried out by Azerbaijan’s 10 major insurance companies totaled 90.17 million manats in January-May 2018.
The figure accounts for 92.52 percent of the total amount in the period, said the Financial Market Supervisory Authority (FIMSA).
|
Inurance company |
Payments in January- May 2018 (million manats) |
Payments in January-May 2017 (million manats) |
Market share of payments in January- May 2018 (%) |
Market share of payments in January- May 2017 (%) |
Ranking in January- May 2018 |
Ranking in January- May 2017 |
|
PASHA Insurance |
22.47 |
13.2 |
23.05 |
13.48 |
1 |
3 |
|
PASHA Life |
21.5 |
15.1 |
22.07 |
15.42 |
2 |
2 |
|
Ateshgah Life |
8.85 |
24.64 |
9.08 |
25.17 |
3 |
1 |
|
Qala Life |
8.68 |
9.06 |
8.9 |
9.25 |
4 |
4 |
|
Ateshgah |
7.87 |
6.35 |
8.08 |
6.5 |
5 |
5 |
|
AzerInsurance |
6.86 |
5.5 |
7.04 |
5.6 |
6 |
7 |
|
AXA MBASK |
4.06 |
5.9 |
4.2 |
6.03 |
7 |
6 |
|
AzInsurance |
3.6 |
3.39 |
3.7 |
3.46 |
8 |
8 |
|
AtaInsurance |
3.26 |
1.44 |
3.35 |
1.47 |
9 |
14 |
|
A-Group |
2.98 |
3.23 |
3.06 |
3.3 |
10 |
9 |
|
Total |
90.17 |
87.81 |
92.52 |
89.68 |
- |
- |
PASHA Insurance company ranks first in terms of the payment of insurance claims carried out in the period. The company made 23.05 percent of the total amount. Payment of insurance claims carried out by PASHA Insurance reached 22.47 million manats in January-May 2018.
PASHA Life was ranked the second with total payments of 21.5 million manats (about 22.07 percent of all payments), and Ateshgah Life become the third with payments of 8.85 million manats (9.08 percent).
Premiums collected by Azerbaijan’s insurance companies totaled 350.8 million manats in January-May 2018 that is 46.11 percent more than in the same period of 2017. Payment of insurance claims totaled 97.5 million manats in the period that is 0.46 percent less 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 June 18)
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Follow the author on Twitter: @AzadHasanli