BAKU, Azerbaijan, Oct. 29
By Eldar Janashvili - Trend:
From January through September 2019, the fees of top ten Azerbaijan’s insurance companies amounted to about 469.7 million manat ($276.3 million, or 90 percent of the total amount of insurance fees), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
During the reporting period, the ranking in terms of the volume of insurance fees was led by PASHA Life insurance company, which accounted for 31.5 percent of the fees. The company collected fees in the amount of 164.4 million manat ($96.731 million) from January through September 2019.
PASHA Insurance company with a total amount of fees worth nearly 119 million manat (nearly $70 million, or about 22.8 percent of all fees) ranked second, while AzerInsurance ranked third with fees worth nearly 42 million manat (nearly $25 million, or 8 percent).
From January through September 2019, insurance companies operating in Azerbaijan collected premiums worth 522.5 million manat ($307.3 million, or a decline of 8 percent for the year), payments for the same period amounted to 201.7 million manat (nearly $119 million, or an increase of 7.9 percent for the year).
The results of the activity of insurance companies from January through September 2019 have been announced by the FIMSA.
|
Insurance companies |
Fees in the period from January to September 2019, in million manat |
Fees in the period from January to September 2018, in million manat |
Share in volume of fees on market in the period from January to September 2019 (%) |
Share in volume of fees on market in the period from January to September 2018 (%) |
Ranking in the period from January to September 2019 |
Ranking in the period from January to September 2018 |
|
PASHA Life |
164.442 |
209.227 |
31.5 |
36.8 |
1 |
1 |
|
PASHA Insurance |
118.961 |
108.243 |
22.8 |
19 |
2 |
2 |
|
AzerInsurance |
41.921 |
39.157 |
8 |
6.9 |
3 |
4 |
|
Ateshgah Life |
28.628 |
41.414 |
5.5 |
7.3 |
4 |
3 |
|
Ateshgah |
27.877 |
28.577 |
5.3 |
5 |
5 |
5 |
|
Xalg Sigorta |
19.437 |
5.693 |
3.7 |
1 |
6 |
15 |
|
Mega Insurance |
18.988 |
22.139 |
3.6 |
3.9 |
7 |
6 |
|
Qala Insurance |
18.206 |
11.652 |
3.6 |
2 |
8 |
12 |
|
Ipek Yolu |
17.480 |
15.686 |
3.3 |
2.8 |
9 |
8 |
|
Ata Insurance |
13.723 |
16.299 |
2.6 |
2.9 |
10 |
7 |
|
TOTAL |
469.663 |
498.087 |
90 |
87.6 |
- |
- |
($1= 1.7 manat on Oct. 29)
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