BAKU, Azerbaijan, April 24. Azerbaijan's PASHA Life Insurance company has led the ranking of insurance companies of the country in terms of the volume of expenses as of January 1, 2023, Trend reports.
The company's expenses accounted for 273.27 million manat ($160.75 million).
The second place was taken by PASHA Insurance with the volume of expenses of 173.88 million manat ($102.28 million).
Azerinsurance with expenses worth 44.98 million manat ($26.46 million) ranked third.
Ranking of Azerbaijan's insurance companies by volume of expenses:
|
№ |
Insurance companies |
Expenses |
Annual difference (%) |
|
1 |
PASHA Life Insurance |
273.27 million manat ($160.75 million) |
1.9 |
|
2 |
PASHA Insurance |
173.88 million manat ($102.28 million) |
8.5 |
|
3 |
Azerinsurance |
44.98 million manat ($26.46 million) |
-38.7 |
|
4 |
Xalq Insurance |
42.4 million manat ($24.9 million) |
33.3 |
|
5 |
Ateshgah Life Insurance |
40.2 million manat ($23.6 million) |
-3.0 |
|
6 |
Ateshgah Insurance |
30.18 million manat ($17.75 million) |
21.1 |
|
7 |
Gala Insurance |
29.05 million manat ($17.09 million) |
-8.3 |
|
8 |
A-Group Insurance |
21.97 million manat ($12.9 million) |
14.1 |
|
9 |
Silkway Insurance |
19.68 million manat ($11.58 million) |
4.4 |
|
10 |
Mega Insurance |
18.78 million manat ($11.05 million) |
-10.3 |
|
11 |
Agro Insurance |
17.28 million manat ($10.16 million) |
2,651.3 |
|
12 |
AzInsurance |
17 million manat ($10 million) |
7.8 |
|
13 |
Gala Life Insurance |
12.55 million manat ($7.38 million) |
-4.9 |
|
14 |
Azerbaijan Industry Insurance |
12.5 million manat ($7.3 million) |
15.8 |
|
15 |
AtaInsurance |
11.65 million manat ($6.85 million) |
-35.3 |
|
16 |
Gunay Insurance |
9.9 million manat ($5.8 million) |
-13.8 |
|
17 |
Baku Insurance |
6.9 million manat ($4.06 million) |
23.8 |
|
18 |
Xalq Life Insurance |
4.2 million manat ($2.4 million) |
15.2 |
|
19 |
Nakhchivan Insurance |
1.67 million manat ($980,000) |
45.2 |
|
20 |
Mega Life Insurance |
1.5 million manat ($880,000) |
108.8 |
|
Total |
791.4 million manat ($465.5 million) |
2.4 |
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).