BAKU, Azerbaijan, April 24. Azerbaijan's PASHA Life Insurance company has led the top insurance companies of the country in terms of the volume of revenues as of January 1, 2023, Trend reports.
The company's revenues accounted for 324.8 million manat ($191.06 million).
The second place was taken by PASHA Insurance with a volume of revenues of 212.2 million manat ($124.8 million).
Ateshgah Life Insurance with revenues worth 50.8 million manat ($29.8 million) ranked third.
Ranking of Azerbaijan's insurance companies by volume of revenues:
|
№ |
Insurance companies |
Revenues |
Annual difference (%) |
|
1 |
PASHA Life Insurance |
324.8 million manat ($191.06 million) |
11.3 |
|
2 |
PASHA Insurance |
212.2 million manat ($124.8 million) |
11.4 |
|
3 |
Ateshgah Life Insurance |
50.8 million manat ($29.8 million) |
2.6 |
|
4 |
Gala Insurance |
42.4 million manat ($24.9 million) |
-2.2 |
|
5 |
Azerinsurance |
34.5 million manat ($20.29 million) |
-41.6 |
|
6 |
Xalq Insurance |
31.7 million manat ($18.6 million) |
-16.5 |
|
7 |
Ateshgah Insurance |
29.6 million manat ($17.4 million) |
17.1 |
|
8 |
Mega Insurance |
23.5 million manat ($13.8 million) |
-9.1 |
|
9 |
Gala Life Insurance |
22.4 million manat ($13.18 million) |
15.8 |
|
10 |
A-Group Insurance |
22 million manat ($12.9 million) |
7.4 |
|
11 |
Silkway Insurance |
20.58 million manat ($12.1 million) |
2.6 |
|
12 |
Agro Insurance |
17.5 million manat ($10.29 million) |
1,358.9 |
|
13 |
AzInsurance |
14.5 million manat ($8.5 million) |
-13.3 |
|
14 |
AtaInsurance |
11.07 million manat ($6.5 million) |
-29.7 |
|
15 |
Azerbaijan Industry Insurance |
10.05 million manat ($5.9 million) |
-24.4 |
|
16 |
Gunay Insurance |
8.69 million manat ($5.1 million) |
-16.2 |
|
17 |
Baku Insurance |
7.05 million manat ($4.15 million) |
81.3 |
|
18 |
Xalq Life Insurance |
6.5 million manat ($3.8 million) |
24.7 |
|
19 |
Nakhchivan Insurance |
2.9 million manat ($1.7 million) |
28.6 |
|
20 |
Mega Life Insurance |
2.2 million manat ($1.29 million) |
134.3 |
|
Total |
895.37 million manat ($526.69 million) |
5 |
As of January 1, 2023, the total volume of assets of Azerbaijani insurance companies accounted for 1.4 billion manat or $822.5 million manat (an increase of 18.8 percent over year).