Baku, Azerbaijan, Oct. 29
By Eldar Janashvili - Trend:
From January through September 2019, the payments of top ten Azerbaijan’s insurance companies amounted to 181 million manat ($106 million, or 89.75 percent of the total insurance payments), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
The ranking is headed by Pasha Life. Some 33.6 percent of the reimbursements paid by all companies during the reporting period accounted to this company. From January through September 2019, this company made payments of nearly 68 million manat (nearly $40 million).
Pasha Insurance with total payments of 38.3 million manat (nearly $23 million, or 19 percent of all payments) ranked second, while Ateshgah with total payments amounting to nearly 15 million manat (nearly $9 million, or 7.3 percent of all payments) ranked third.
From January through September 2019, insurance companies operating in Azerbaijan collected premiums worth 522.5 million manat ($307.3 million), a decline of 8 percent for the year; payments for the same period amounted to 201.7 million manat (nearly $119 million), 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 |
Payments in the period from January to September 2019, million manat |
Payments in the period from January to September 2018, million manat |
Share of payments in the market in the period from January to September 2019, % |
Share of payments in the 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 |
67.721 |
58.998 |
33.6 |
36.9 |
1 |
1 |
|
PASHA Insurance |
38.300 |
37.152 |
19 |
23.2 |
2 |
2 |
|
Ateshgah |
14.701 |
12.558 |
7.3 |
7.9 |
3 |
3 |
|
AzerInsurance |
11.261 |
11.304 |
5.6 |
7 |
4 |
9 |
|
AtaInsurance |
11.191 |
6.846 |
5.5 |
4.3 |
5 |
8 |
|
Xalg Sigorta |
10.894 |
2.400 |
5.4 |
1.5 |
6 |
14 |
|
Ateshgah Life |
9.117 |
12.558 |
4.5 |
7.9 |
7 |
4 |
|
A-Group |
6.053 |
5.695 |
3 |
3.6 |
8 |
10 |
|
İpek Yolu |
5.982 |
0.941 |
3 |
0.6 |
9 |
17 |
|
Qala Life |
5.807 |
11.347 |
3 |
7.1 |
10 |
5 |
|
TOTAL |
181.027 |
159.799 |
89.75 |
85.5 |
- |
- |
($1= 1.7 manat on Oct. 29)