BAKU, Azerbaijan, Jan. 29
By Zeyni Jafarov – Trend:
The Central Bank of Azerbaijan (CBA) published data on revenues of Azerbaijani insurance companies for 2020, Trend reports referring to the CBA’s report.
According to the report, in the past year, the companies have collected over 728 million manat ($428.6 million) of insurance premiums. The amount of collected insurance premiums is 7 percent more than in 2019.
The review of revenues among domestic insurance companies is as follows:
No |
Insurance company |
Revenues from premiums |
1 |
PASHA Life |
242.6 million manat ($142.7 million) |
2 |
PASHA Insurance |
163.45 million manat ($96.15 million) |
3 |
State Insurance Commercial Company |
49.1 million manat ($28.88 million) |
4 |
Ateshgah Life |
41.5 million manat ($24.4 million) |
5 |
Xalq Sigorta |
31.18 million manat ($18.3 million) |
6 |
Gala Insurance |
32.8 million manat ($19.3 million) |
7 |
Meqa Sigorta |
28.6 million manat ($16.8 million) |
8 |
Ateshgah |
25.35 million manat ($14.9 million) |
9 |
Ipek Yolu Sigorta |
17.3 million manat ($10.2 million) |
10 |
Gala Life |
15.94 million manat ($9.38 million) |
11 |
Azsigorta |
15.91 million manat ($9.36 million) |
12 |
AtaSigorta |
13.89 million manat ($8.17 million) |
13 |
A-Group |
17.05 million manat ($10.03 million) |
14 |
Azerbaijan Industrial Insurance Company |
9.042 million manat ($5.318 million) |
15 |
Gunay Sigorta |
9.045 million manat ($5.32 million) |
16 |
Xalq Hayat |
3.67 million manat ($2.16 million) |
17 |
Amrah Sigorta |
1.98 million manat ($1.16 million) |
18 |
Baku Sigorta |
2.06 million manat ($1.2 million) |
19 |
Nakhchivansigorta |
1.67 million manat ($980,000) |
20 |
Ravan Sigorta |
1.07 million manat ($630,000) |
21 |
AXA MBASK |
5,000 manat ($2,941) |
Total: |
728.6 million manat ($428.6 million) |
Currently, 20 insurance companies and one reinsurance company operate in Azerbaijan. The licenses of three previously operating Azerbaijani insurance companies (Standard Insurance, Amrah Sigorta, and AXA MBASK) were revoked.
(1 USD = 1.7 AZN on Jan.29)
---
Follow the author on Twitter: @jafarov_zeyni