10 insurance companies provide over 90% of payments in Azerbaijan

Baku, Azerbaijan, Jan. 28

By Taleh Mursagulov - Trend:

In 2018, payments by 10 leading insurance companies in Azerbaijan amounted to 218.67 million manats (90.1 percent of the total insurance payments).

The results of the activity of insurance companies in 2018 have been announced by the Azerbaijan Financial Market Supervisory Authority, Trend reports.

The ranking is headed by Pasha Life, which accounted for 29.56 percent of the reimbursements paid by all companies during the period. In 2018, this company made payments of 71.05 million manats.

The second position in the ranking was taken by Pasha Insurance with total payments of 49.52 million manats (20.61 percent of all payments), and the third position was taken by Ateshgah with total payments amounting to 20.02 million manats (8.33 percent of all payments).

In 2018, Azerbaijani insurance companies collected premiums for 728 million manats, which is by 30.7 percent more than in 2017. Payments by the Azerbaijani insurance companies during the same period amounted to 240.3 million manats, which is 6.54 percent less than in 2017.

The report doesn’t include the only reinsurance company AzRe.

There are 21 insurance companies in Azerbaijan.

(1 USD = 1.7 AZN on Jan. 28)

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Follow the author on Twitter: @TalehMursagulov