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Azerbaijan names TOP-10 local insurance companies by payments for 1M2023

Finance Materials 27 February 2023 09:14 (UTC +04:00)
Azerbaijan names TOP-10 local insurance companies by payments for 1M2023
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 27. The total payments of 10 Azerbaijani leading insurance companies amounted to 33.1 million manat ($19.4 million) or 94.28 percent of total insurance payments in January 2023, Trend reports via the Central Bank of Azerbaijan (CBA).

According to CBA, the list of top 10 companies in terms of payments was headed by PASHA Life, which accounted for 46.23 percent of payments for the reporting period. The company's payments amounted to 16.2 million manat ($9.5 million) in January 2023.

PASHA Insurance, with total insurance payments of 6.04 million manat or $3.5 million (17.18 percent of all payments), ranked second, and Ateshgah Life, with payments of 3.03 million manat or $1.7 million (8.63 percent) - third.

Total payments of all insurance companies in Azerbaijan amounted to 35.1 million manat ($20.6 million) in January 2023.

Insurance company

Payments in January 2023

Share in the volume of payments on the market in January 2023 (percent)

Rankings in January 2023

PASHA Life

16.2 million manat ($9.5 million)

46.23

1

PASHA Insurance

6.04 million manat ($3.5 million)

17.18

2

Ateshgah Life

3.03 million manat ($1.7 million)

8.63

3

Xalg Insurance

2.5 million manat ($1.4 million)

7.13

4

Ateshgah Insurance

1.1 million manat ($647,060)

3.34

5

Azer Insurance

1.006 million manat ($591,700)

2.86

6

A-Qroup Insurance

923.000 ($542,940)

2.62

7

Meqa Insurance

800.000 ($470,590)

2.28

8

AzInsurance

782.000 ($460,000)

2.22

9

Qala Insurance

626.000 ($368,240)

1.78

10

TOTAL

33.1 million manat ($19.4 million)

94.28

-

The total payments of 10 leading insurance companies of Azerbaijan from January through December 2022 equaled 410.6 million manat ($241.5 million).

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