Baku, Azerbaijan, June 21
By Anvar Mammadov – Trend:
In January-May 2018, the fees of the top ten insurance companies (IC) of Azerbaijan amounted to 321.16 million manats (91.5 percent of the total insurance fees).
The results of the activities of insurance companies for the first five months of 2018 were published by the Financial Markets Supervision Chamber of Azerbaijan.
|
Name of insurance company |
Premiums for January-May 2018, in million manats |
Premiums for January-May, 2017, in million manats |
Share in the volume of fees on the market in January-May 2018, in % |
Share in the volume of fees on the market in January-May 2017, in % |
Place in ranking in January-May 2018 |
Place in ranking in January-May 2017 |
|
PASHA Life |
128.91 |
71.71 |
36.7 |
29.9 |
1 |
1 |
|
PASHA Insurance |
78 |
60.35 |
22.2 |
25.1 |
2 |
2 |
|
AzerInsurance |
33.47 |
11.07 |
9.5 |
4.6 |
3 |
5 |
|
Ateshgah Life |
22.56 |
13.06 |
6.4 |
5.4 |
4 |
4 |
|
Mega Insurance |
14.04 |
8.01 |
4 |
3.3 |
5 |
9 |
|
Ateshgah Insurance |
13.1 |
13.21 |
3.7 |
5.5 |
6 |
3 |
|
AXA MBASK |
8.23 |
9.65 |
2.4 |
4.0 |
7 |
7 |
|
AtaInsurance |
8.08 |
3.91 |
2.3 |
1.6 |
8 |
14 |
|
SilkWay Insurance |
7.54 |
8.23 |
2.2 |
3.4 |
9 |
8 |
|
AzInsurance |
7.22 |
9.8 |
2.1 |
4.1 |
10 |
6 |
|
TOTAL |
321.16 |
208.88 |
91.5 |
87.0 |
- |
- |
The ranking in terms of insurance fees for the first five months of 2018 is headed by the Pasha Life insurance company, which accounts for 36.7 percent of the total premiums collected by insurance companies for the reporting period.
The PASHA Insurance (22.2 percent) and AzerInsurance (9.5 percent) companies are in the second and third places in the ranking, respectively.
The list of TOP 10 companies in terms of insurance premiums includes two of the three companies entitled to engage in life insurance in Azerbaijan - Ateshgah Life and PASHA Life.
In January-May 2018, insurance companies operating in Azerbaijan collected premiums in the amount of 350.8 million manats, which is 46.11 percent higher than in the same period of last year. Payments of the ICs for the same period amounted to 97.5 million manats, which is 0.46 percent less than in January-May 2017.
The report does not take into account the results of the activities of the only reinsurance company AzRe.
There are 21 insurance companies in Azerbaijan.
The official exchange rate for June 20 is 1.7 AZN/USD.