Top 10 insurance companies of Azerbaijan in terms of fees announced

Baku, Azerbaijan, June 10

By Kheyraddin Nasirzade - Trend:

In January-April 2019, the fees of the top ten insurance companies of Azerbaijan amounted to about 246.12 million manats (92.77 percent of the total insurance fees).

The results of the activity of insurance companies in January-April 2019 have been announced by the Azerbaijan Financial Market Supervisory Authority (FIMSA).

Insurance company

Fees in January-April 2019, in million manats

Fees in January-April 2018, in million manats

Share in volume of fees on market in January-April 2019 (%)

Share in volume of fees on market in January-April 2018 (%)

Ranking in January-April 2019

Ranking in January-April 2018

PASHA Life

74.59

108.8

28.12

39.15

1

1

PASHA Insurance

71.97

70.93

27.13

23.53

2

2

AzerInsurance

33.01

31.93

12.44

10.59

3

3

Ateshgah Life

12.37

17.4

4.66

5.77

4

4

Ateshgah

11.96

10.9

4.51

3.62

5

6

Mega Insurance

11.13

12.46

4.2

4.13

6

5

Xalg Sigorta

9.37

2.67

3.53

0.9

7

14

Ipek Yolu

7.87

7.16

2.97

2.38

8

7

Qala Insurance

7.42

4.77

2.8

1.58

9

12

AtaInsurance

6.42

6.14

2.42

2.04

10

9

TOTAL

246.12

277.94

92.77

92.21

-

-

At the end of the reported period, the ranking in terms of insurance payments was led by PASHA Life, which accounted for 28.12 percent of fees. In January-April 2019, this company produced fees amounting to 74.59 million manats.

The second position in the ranking was held by PASHA Insurance with total fees of 71.97 million manats (about 27.13 percent of all payments), and the third was held by AzerInsurance with fees of 33.01 million manats (12.44 percent).

In January-April 2019, insurance companies operating in Azerbaijan collected premiums in the amount of 246.12 million manats (a decrease of 11.44 percent over a year), and payments in the same period amounted to 72.89 million manats (a decrease of 15.85 percent over a year).

(1 USD = 1.7 AZN on June 10)

---

Follow the author on Twitter: @1nasirzade

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