BAKU, Azerbaijan, May 28. Total collections of 10 leading insurance companies in Azerbaijan amounted to 521 million manat ($306 million), or 95.99 percent of total insurance collections from January through April 2024, Trend reports.
Data from the Central Bank of Azerbaijan (CBA) shows that PASHA Life Insurance topped the ranking on the volume of insurance collections with 256 million manat ($150 million) in the reporting period, accounting for 47.18 percent of collections.
Meanwhile, PASHA Insurance took the second position in the ranking with total insurance collections of 133.6 million manat or $78.5 million (24.62 percent of all collections), and Qala Insurance ranked third with 36 million manat or $21 million (6.66 percent).
Total collections of all insurance companies in Azerbaijan amounted to 542.8 million manat ($319 million) in the first four months of this year.
|
Insurance OJSC |
Collections, manat |
Market share by collections volume, % |
Ranking position |
|
Pasha Life Insurance |
256 million manat ($150 million) |
47.18 |
1 |
|
Pasha Insurance |
133.6 million manat ($78.5 million) |
24.62 |
2 |
|
Qala Insurance |
36 million manat ($21 million) |
6.66 |
3 |
|
Ateshgah Life Insurance |
33 million ($19 million) |
6.12 |
4 |
|
Ateshgah Insurance |
16.9 million ($9.9 million) |
3.11 |
5 |
|
Mega Insurance |
12 million ($7 million) |
2.26 |
6 |
|
Azerbaijan Industry Insurance |
9 million ($5.3 million) |
1.67 |
7 |
|
Agrar Insurance |
8.4 million ($4.9 million) |
1.54 |
8 |
|
Qala Life Insurance |
7.8 million ($4.6 million) |
1.44 |
9 |
|
Khalg Insurance |
7.56 million ($4.45) |
1.39 |
10 |
|
TOTAL |
521 million ($306 million) |
95.99 |
- |
To note, the total collections of 10 leading insurance companies in Azerbaijan amounted to 1.12 billion manat ($660 million), or 91.99 percent of the total insurance collections in 2023.