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Top 10 insurance companies in Azerbaijan in terms of payments

Finance Materials 29 August 2019 17:28 (UTC +04:00)

Baku, Azerbaijan, Aug. 29

By Kamala Mammadli - Trend:

In January-July 2019, payments of ten leading insurance companies of Azerbaijan amounted to 143 million manats (92.47 percent of the total insurance payments).

The ranking is headed by Pasha Life. Some 34 percent of the reimbursements paid by all companies during the reporting period accounted for this company. In January-July 2019, this company made payments of 52.719 million manats.

Pasha Insurance with total payments of 25.83 million manats (about 16.7 percent of all payments) ranked second, while Ateshgah with total payments amounting to 11.904 million manats (7.7 percent of all payments) ranked third.

In January-July 2019, Azerbaijani insurance companies collected premiums in the amount of 422.931 million manats (a decrease of almost 8.72 percent for the year), payments in the same period amounted to 154.631 million manats (a growth of 8.6 percent for the year).

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

Insurance companies

Payments in January-July 2019, million manats

Payments in January-July 2018, million manats

Share of payments in the market in January-July 2019, %

Share of payments in the market in January-July 2018, %

Ranking in January-July 2019

Ranking in January-July 2018

PASHA Life

52.729

42.982

34

29.4

1

2

PASHA Insurance

25.831

29.759

16.7

20.3

2

1

Ateshgah

11.904

11.635

7.7

7.97

3

3

AtaInsurance

8.63

4.973

5.6

0.34

4

8

AzerInsurance

8.48

9.115

5.5

6.24

5

6

Xalg Sigorta

8.181

1.838

5.3

0.12

6

14

Ateshgah Life

7.858

11.244

5.08

7.7

7

4

Ipek Yolu

5.74

920.2

3.7

0.63

8

15

A-Group

4.769

4.506

3.08

3.08

9

10

Qala Life

4.422

10.46

2.9

7.17

10

5

Total

143.000

127.436

89.56

82.95

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(1 USD = 1.7 AZN on Aug. 29)

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Follow the author on Twitter: kamala_mammadli

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