Baku, Azerbaijan, Aug. 29
By Anvar Mammadov – Trend:
In January-July 2018, the insurance premiums of the top ten insurance companies amounted to 414.95 million manats (90.23 percent of total insurance premiums).
The results of the activity of insurance companies for the seven months of 2018 were announced by the Azerbaijan Financial Market Supervisory Authority.
|
Name of insurance company |
Premiums for Jan.-July 2018, in millions of AZN |
Premiums for Jan.-July 2017, in million AZN |
Share in the volume of fees in market in Jan.-July 2018, in% |
Share in the volume of fees in the market in Jan.-July 2017, in% |
Place in ranking in Jan.-July 2018 |
Place in ranking in Jan.-July 2017 |
|
PASHA Life |
167,73 |
89,26 |
36,47 |
27,65 |
1 |
1 |
|
PASHA Insurance |
89,48 |
73,79 |
19,46 |
22,86 |
2 |
2 |
|
AzerInsurance |
36,49 |
15,75 |
7,94 |
4,88 |
3 |
5 |
|
Ateshgah Life |
32,12 |
18,26 |
6,99 |
5,66 |
4 |
4 |
|
Ateshgah Insurance |
23,07 |
22,74 |
5,02 |
7,04 |
5 |
3 |
|
Mega Insurance |
16,3 |
10,71 |
3,55 |
3,32 |
6 |
9 |
|
SilkWay Insurance |
15,42 |
15,47 |
3,35 |
4,79 |
7 |
6 |
|
AtaInsurance |
12,59 |
6,87 |
2,74 |
2,13 |
8 |
12 |
|
AXA MBASK |
11,41 |
13,77 |
2,48 |
4,27 |
9 |
8 |
|
AzInsurance |
10,33 |
14,66 |
2,25 |
4,54 |
10 |
7 |
|
TOTAL |
414,95 |
281,29 |
90,23 |
87,13 |
- |
- |
Ranking by the volume of insurance premiums for the seven months of 2018 is headed by PASHA Life Insurance Company, which accounts for 36.47 percent of the total premiums.
The second and third places in the ranking were PASHA Insurance (19.46 percent) and AzerInsurance (7.94 percent), respectively.
The TOP 10 insurance premiums include two of the three companies that have the right to engage in life insurance in Azerbaijan - Ateshgah Life and PASHA Life.
In January-July of 2018, the insurance companies operating in Azerbaijan collected premiums of 459.85 million manats, which is 42.4 percent more than in the same period last year.
Overall insurance payments for the same period amounted to 145.9 million manats, which is 1.3 percent more than in January-July 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.
(1.7 manats = 1 USD on Aug. 29)
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