BAKU, Azerbaijan, June 27. The total fees of 10 Azerbaijani leading insurance companies (ICs) totaled 126.8 million manat ($74.6 million) or 94.67 percent of the overall insurance fees in January 2023, Trend reports referring to the Central Bank of Azerbaijan (CBA).
In the reporting period, PASHA Insurance topped the ranking in terms of premiums with 47.8 percent. The company's fees for this period reached 64.206 million manat ($37.78 million).
PASHA Life ranked second with a total premium of 33.149 million manat or $19.5 million (24.75 percent of all fees), while Agrar Insurance took third place with 8.99 million manat or $5.29 million (6.72 percent).
The total fees of all insurance companies of the country amounted to 133.9 million manat ($78.79 million) in January 2023.
|
Insurance company |
Fees for January 2023 |
Market share of fees for January 2023 |
Rankings for January 2023 |
|
PASHA Insurance OJSC |
64.026 million manat ($37.67 million) |
47.8 |
1 |
|
PASHA Life Insurance OJSC |
33.1 million manat ($19.47 million) |
24.75 |
2 |
|
Agrar Insurance OJSC |
8.99 million manat ($5.29 million) |
6.72 |
3 |
|
Xalq Insurance OJSC |
4.59 million manat ($2.7 million) |
3.43 |
4 |
|
Ateshgah Life Insurance OJSC |
3.4 million manat ($2 million) |
2.55 |
5 |
|
Mega Insurance OJSC |
3.15 million manat ($1.85 million) |
2.35 |
6 |
|
Ateshgah Insurance OJSC |
2.9 million manat ($1.7 million) |
2.19 |
7 |
|
Azerbaijan Industrial Insurance OJSC |
2.67 million manat ($1.57 million) |
2 |
8 |
|
State Insurance Commercial Company |
2.04 million manat ($1.2 million) |
1.52 |
9 |
|
Qala Insurance OJSC |
1.8 million manat ($1.05 million) |
1.37 |
10 |
|
TOTAL |
126.8 million manat ($74.6 million) |
94.67 |
- |
In 2022, the fees of 10 Azerbaijani leading insurance companies stood at 881.8 million manat ($518.8 million) or 90.83 percent of the overall insurance fees, while the total fees of all Azerbaijani insurance companies made up 970.823 million manat ($571.3 million).