BAKU, Azerbaijan, January 22. Total payments of 10 leading insurance companies in Azerbaijan amounted to 557.39 million manat, or $327.88 million (94.9 percent of total insurance payments) in 2023, Trend reports.
Pasha Life Insurance had the highest number of insurance payments during the reporting year, totaling 266.16 million manat ($156.56 million), accounting for 45.32 percent of total insurance payments made by all companies.
Meanwhile, Pasha Insurance ranked second on the list with total payments reaching 144 million manat, or $84.7 million (24.52 percent of all payments), while Azerbaijan Industry Insurance ranked third with 32.27 million manat, or $18.98 million (5.5 percent).
Total payments of all insurance companies in Azerbaijan amounted to 587.3 million manat ($345.47 million) last year.
|
Insurance company |
Payments |
Share in total insurance payments (%) |
Ranking |
|
PASHA Life Insurance OJSC |
266.16 million manat ($156.56 million) |
45.32 |
1 |
|
PASHA Insurance OJSC |
144 million manat ($84.7 million) |
24.52 |
2 |
|
Azerbaijan Industry Insurance (OJSC) |
32.27 million manat ($18.98 million) |
5.50 |
3 |
|
Ateshgah Life Insurance Company OJSC |
25.68 million manat ($15 million) |
4.37 |
4 |
|
Khalg Insurance OJSC |
22 million manat ($12.9 million) |
3.76 |
5 |
|
State Insurance Company of the Republic of Azerbaijan |
16.65 million manat ($9.79 million) |
2.84 |
6 |
|
Ateshgah Insurance Company OJSC |
16.62 million manat ($9.78 million) |
2.83 |
7 |
|
A-Group Insurance Company OJSC |
15.3 million manat ($9 million) |
2.61 |
8 |
|
Qala Insurance Company OJSC |
9.6 million manat ($5.6 million) |
1.64 |
9 |
|
Mega Insurance OJSC |
8.96 million manat ($5.27 million) |
1.53 |
10 |
|
TOTAL |
557.39 million manat ($327.88 million) |
94.9 |
- |
In 2022, the total payouts of Azerbaijan's top 10 insurance companies totaled 410.6 million manat ($241.5 million).