BAKU, Azerbaijan, June 29
By Zeyni Jafarov - Trend:
The data on fees in the Azerbaijani insurance market as of early June 2021 have been disclosed, Trend reports citing a report from the Central Bank of Azerbaijan.
In accordance with the report, this figure exceeded 398 million manat ($234 million) during the first five months of 2021, which is by 10.1 percent more than in the same period of 2020.
A review of fees among local insurance companies is as follows:
|
# |
Insurance company |
Insurance fees |
|
1 |
Pasha Hayat Sigorta |
139.8 million manat ($82.2 million) |
|
2 |
Pasha Sigorta |
95.6 million manat ($56.2 million) |
|
3 |
State insurance commercial company |
42.2 million manat ($24.8 million) |
|
4 |
Qala Sigorta |
20.9 million manat ($12.3 million) |
|
5 |
Ateshgah Hayat |
19.6 million manat ($11.5 million) |
|
6 |
Xalq Sigorta |
10.9 million manat ($6.4 million) |
|
7 |
Meqa Sigorta |
10.4 million manat ($6.1 million) |
|
8 |
Ateshgah |
9.7 million manat ($5.7 million) |
|
9 |
Ipek Yolu Sigorta |
7.2 million manat ($4.2 million) |
|
10 |
A-Qroup |
7.2 million manat ($4.2 million) |
|
11 |
Azerbaijan Industrial Insurance Company |
6.5 million manat ($3.8 million) |
|
12 |
Qala Hayat |
6.4 million manat ($3.8 million) |
|
13 |
AtaSigorta |
5.8 million manat ($3.4 million) |
|
14 |
AZSIGORTA |
4.9 million manat ($2.9 million) |
|
15 |
Gunay Sigorta |
4.4 million manat ($2.6 million) |
|
16 |
Xalq Hayat |
2.1 million manat ($1.2 million) |
|
17 |
Baku Sigorta |
1.5 million manat ($882,352) |
|
18 |
Aqrar Sigorta |
1.4 million manat ($823,529) |
|
19 |
Naxçıvansığorta |
817,000 manat ($480,588) |
|
20 |
Meqa Hayat |
212,000 manat ($124,705) |
|
Total: |
398.001 million manat (234.1 million) |
Some 20 insurance companies and one reinsurance company operate in Azerbaijan. Previously, the licenses of four insurance companies, namely, Amrah Sigorta, AXA MBASK, Standard Insurance and Revan Sigorta, were canceled.
-----
Follow the author on Twitter: @jafarov_zeyni