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Azerbaijan unveils data on local insurers' fees for 9M2020

Finance Materials 27 October 2020 17:10 (UTC +04:00)
Azerbaijan unveils data on local insurers' fees for 9M2020

BAKU, Azerbaijan, Oct. 27

By Fidan Babayeva – Trend:

The Central Bank of Azerbaijan (CBA) has published a report on fees in the insurance market of Azerbaijan for the first nine months of 2020, Trend reports citing the CBA.

According to the report, Azerbaijani insurance companies collected more than 576.2 million manat ($338.9 million) of insurance premiums from January through September 2020, which is 12.4 percent more compared to the same period of 2019.

Below is an overview of fees among domestic insurers:

Insurance companies

Insurance fees

1

PASHA Life Insurance

194 million manat ($114.1 million)

2

PASHA Insurance

134.7 million manat ($79.2 million)

3

State Commercial Insurance Company (Azersigorta)

44.3 million manat ($26 million)

4

Ateshgah Life

31.2 million manat ($18.3 million)

5

Mega Insurance

25.6 million manat ($15 million)

6

Gala Insurance

24.6 million manat ($14.4 million)

7

Xalq Insurance

21.7 million manat ($12.7 million)

8

Ateshgah

18.7 million manat ($11 million)

9

Silk Way Insurance

16.5 million manat ($9.7 million)

10

Azsigorta

12.9 million manat ($7.58 million)

11

Gala Life

11.9 million manat ($7 million)

12

AtaSigorta

10.4 million manat ($6.11 million)

13

A-Group

7.59 million manat ($4.46 million)

14

Azerbaijan Industry Insurance

7.35 million manat ($4.32 million)

15

Gunay Sigorta

6.62 million manat ($3.89 million)

16

Xalq Life

2.17 million manat ($1.27 million)

17

Amrah Sigorta

1.88 million manat ($1.05 million)

18

Ravan Sigorta

1.07 million manat ($629,411)

19

Baku Sigorta

1.26 million manat ($741,176)

20

Nakhchivan Sigorta

1.03 million manat ($605,882)

21

AXA MBASK

5,000 manat ($2,941)

TOTAL

576.2 million manat ($338.9 million)

Currently, 21 insurance companies and one reinsurance company operate in Azerbaijan.

(1 USD = 1.7 manat on Oct. 27)

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Follow the author on Twitter: @Fidan_Babaeva

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