BAKU, Azerbaijan, April 14. The total insurance premiums of 10 Azerbaijani leading insurance companies amounted to 321.9 million manat ($189.3 million) or 92.79 percent of total insurance premiums from January through March 2023, Trend reports via the Central Bank of Azerbaijan (CBA).
According to CBA, the list of top 10 companies in terms of premiums was led by PASHA Life Insurance, which accounted for 36.17 percent of premiums for the reporting period. The company's premiums amounted to 125.4 million manat ($73.7 million) from January through March 2023.
PASHA Insurance, with total insurance premiums of 105.3 million manat or $61.9 million (30.38 percent of all premiums), ranked second, and Qala Insurance, with insurance premiums of 29.8 million manat or $17.5 million (8.61 percent) - third.
Total premiums of all insurance companies in Azerbaijan amounted to 346.9 million manat ($204.06 million) from January through March 2023.
Top-10 insurance companies by premiums from January through March 2023:
|
Insurance company |
Premiums |
Share in total insurance premiums |
Ranking |
|
PASHA Life Insurance |
125.4 million manat ($73.7 million) |
36.17 |
1 |
|
PASHA Insurance |
105.3 million manat ($61.9 million) |
30.38 |
2 |
|
Qala Insurance |
29.8 million manat ($17.5 million) |
8.61 |
3 |
|
Ateshgah Life |
15.9 million manat ($9.3 million) |
4.59 |
4 |
|
Agrar Insurance |
9.5 million manat ($5.5 million) |
2.76 |
5 |
|
Mega Insurance |
8.1 million manat ($4.7 million) |
2.34 |
6 |
|
Ateshgah Insurance |
7.5 million manat ($4.4 million) |
2.18 |
7 |
|
Xalg Insurance |
7.2 million manat ($4.2 million) |
2.10 |
8 |
|
Azerbaijan Industrial Insurance |
6.9 million manat ($4.06 million) |
2.00 |
9 |
|
Qala Life Insurance |
5.7 million manat ($3.3 million) |
1.67 |
10 |
|
TOTAL |
321.9 million manat ($189.3 million) |
92.79 |
- |
In 2022, the total insurance premiums of Azerbaijan's 10 leading insurance companies equaled 881.8 million manat ($518.7 million) or 90.83 percent of all premiums, while the overall premiums of all insurance companies of Azerbaijan accounted for 970.8 million manat ($571.06 million).