BAKU, Azerbaijan, June 25. The total fees of the 10 leading insurance companies of Azerbaijan amounted to 525.4 million manat ($309 millon), or 92.77 percent of the total insurance fees, from January through May 2023, Trend reports.
According to the CBA, the ranking in terms of insurance fees was headed by PASHA life Insurance during the reporting period, which accounted for 43.74 percent of fees for the reporting period. The company's fees in the reporting period of 2023 amounted to 247.7 million manat ($145.7 million).
The second position in the ranking was taken by PASHA Insurance with a total amount of insurance fees of 140.4 million manat or $82.5 million (24.8 percent of all fees), followed by Qala Insurance on the third position with fees of 37.3 million manat or $21.9 millon (6.59 percent).
The total fees of all insurance companies of Azerbaijan amounted to 566.4 million manat ($333.1 million) during the reporting period of 2023.
Top-10 leading insurance companies by fees from January through May 2023:
|
Name of insurance company |
Fees (manat) |
Share of fees in market (%) |
Place in ranking |
|
Pasha life Insurance OJSC |
247,765 ($145,744) |
43.74 |
1 |
|
Pasha Insurance OJSC |
140,479 ($82,634) |
24.80 |
2 |
|
Qala Insurance OJSC |
37,325 ($21,955) |
6.59 |
3 |
|
Ateshgah life Insurance OJSC |
27,498 ($16,175) |
4.85 |
4 |
|
Ateshgah Insurance OJSC |
13,877 ($8,162) |
2.45 |
5 |
|
Mega Insurance OJSC |
12,924 ($7,602) |
2.28 |
6 |
|
Agrarian Insurance OJSC |
12,413 ($7,301) |
2.19 |
7 |
|
State Insurance Company of the Azerbaijan Republic |
12,089 ($7,111) |
2.13 |
8 |
|
Khalg Insurance OJSC |
10,739 ($6,317) |
1.90 |
9 |
|
Qala Life Insurance OJSC |
10,376 ($6,103) |
1.83 |
10 |
|
In total |
525,486 ($309,109) |
92.77 |
- |
Meanwhile, the total fees of the 10 leading insurance companies of Azerbaijan amounted to 881.8 million manat ($518.7 million) or 90.83 percent of the total insurance fees, and the total fees of all insurance companies of Azerbaijan during the reporting period amounted to 970.8 million manat ($571 million) in 2022.