BAKU, Azerbaijan, Nov. 27
By Eldar Janashvili - Trend:
From January through October 2019, the fees of top ten Azerbaijan’s insurance companies amounted to about 525.1 million manat ($309.5 million, or 92 percent of the total amount of insurance fees), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
During the reporting period, PASHA Life insurance company accounted for 31.6 percent of the fees. The company collected fees in the amount of 180.1 million manat ($106.1 million) from January through October 2019.
PASHA Insurance company with a total amount of fees worth 132.6 million manat ($78.2 million, or about 23.2 percent of all fees) ranked second, while AzerInsurance ranked third with fees worth 43.7 million manat ($25.7 million, or 7.7 percent).
From January through October 2019, insurance companies operating in Azerbaijan collected premiums worth 570.5 million manat ($336.3 million, or a decline of 7.6 percent for the year), payments for the same period amounted to 201.7 million manat ($118.9 million, or an increase of 9.6 percent for the year).
The results of the activity of insurance companies from January through October 2019 have been announced by the FIMSA.
|
Insurance companies |
Fees in the period from January through October 2019, in million manat |
Fees in the period from January through October 2018, in million manat |
Share in volume of fees on market in the period from January through October 2019 (%) |
Share in volume of fees on market in the period from January through October 2018 (%) |
Ranking in the period from January through October 2019 |
Ranking in the period from January through October 2018 |
|
PASHA Life |
180.1 ($106.2) |
226.8 ($133.7) |
31.6 |
36.7 |
1 |
1 |
|
PASHA Insurance |
132.6 ($78.2) |
118.1 ($69.6) |
23.2 |
19.1 |
2 |
2 |
|
AzerInsurance |
43.7 ($25.7) |
40.5 ($23.9) |
7.7 |
6.6 |
3 |
4 |
|
Ateshgah Life |
31.1 ($18.3) |
46.1 ($27.2) |
5.5 |
7.5 |
4 |
3 |
|
Ateshgah |
30.4 ($17.9) |
31.1 ($18.3) |
5.3 |
5.1 |
5 |
5 |
|
Xalg Sigorta |
22.3 ($13.1) |
7.1 ($4.2) |
3.9 |
1.1 |
6 |
15 |
|
Mega Insurance |
19.8 ($11.7) |
22.9 ($13.5) |
3.5 |
3.7 |
7 |
6 |
|
Qala Insurance |
19.2 ($11.3) |
12.7 ($7.5) |
3.4 |
2.1 |
8 |
12 |
|
Ipek Yolu |
17.7 ($10.4) |
15.9 ($9.4) |
3.1 |
2.6 |
9 |
8 |
|
Ata Insurance |
15.4 ($9.1) |
18.1 ($10.7) |
2.7 |
2.9 |
10 |
7 |
|
Total |
525.1 ($309.5) |
539.6 ($318) |
92 |
87.4 |
- |
- |
($1= 1.7 manat on Nov. 27)
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Follow the author on Twitter: @eldarjanashvili