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10 insurance companies of Azerbaijan provide over 90% of insurance payments on market

Business Materials 26 September 2018 09:24

Baku, Azerbaijan, Sept. 26

By Anvar Mammadov – Trend:

In January-August 2018, the payments of ten leading insurance companies of Azerbaijan have amounted to 156.17 million manats (92.64 percent of the total insurance payments).

The results of the activities of insurance companies for January-August 2018 have been published by the Financial Markets Supervision Chamber of Azerbaijan.

Name of insurance company

Payments for January-August 2018, in million manats

Payments for January-August 2017, in million manats

Share in the volume of payments on the market in January-August 2018, in percent

Share in the volume of payments on the market in January-August 2017, in percent

Place in the ranking in January-August 2018

Place in the ranking in January-August 2017

PASHA Life

52,88

33,61

31,37

20,12

1

1

PASHA Insurance

34,39

31,83

20,4

19,05

2

3

Ateshgah

13,16

10,29

7,81

6,16

3

5

Ateshgah Life

11,99

32,49

7,11

19,45

4

2

Qala Life

10,95

12,95

6,5

7,75

5

4

AzerInsurance

10,27

8,77

6,09

5,25

6

6

AXA MBASK

6,36

8,61

3,77

5,16

7

7

AtaInsurance

5,93

2,74

3,52

1,64

8

12

AzInsurance

5,21

5,96

3,09

3,56

9

8

A-Group

5,03

5,16

2,98

3,09

10

9

TOTAL

156,17

152,41

92,64

91,23

-

-

At the end of the reporting period, the ranking in terms of insurance payments was headed by Pasha Life company, which accounted for 31.37 percent of the reimbursements paid by all companies during the reporting period. In the eight months of 2018, this company made payments in the amount of 52.88 million manats.

The second position in the ranking was taken by the Pasha Insurance company with total volume of payments amounting to 34.39 million manats (20.4 percent of all payments), and the third position was taken by Ateshgah company with total volume of payments amounting to 13.16 million manats (7.81 percent of all payments).

In January-August 2018, insurance companies operating in Azerbaijan collected premiums in the amount of 517 million manats, which is 40 percent higher than the indicator for the same period last year. The insurance payments of the insurance companies for the same period amounted to 169 million manats, which is 1.2 percent more than the indicator for the eight months of 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.

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