BAKU, Azerbaijan, June 25. The total payments of 10 leading insurance companies in Azerbaijan amounted to 257.8 million manat ($151.5 million) (92.77 percent of total insurance payments) from January through May 2024, Trend reports.
Based on the results of the reporting period, Pasha Life Insurance Company took the cake when it came to the volume of insurance payments, making up a whopping 52.67 percent of all companies' total insurance payments. During the reporting period of 2024, it shelled out a whopping 144.7 million manat ($85 million).
Pasha Insurance came in at number two, receiving 54.5 million
manat ($32 million), or 19.86 percent of all payments. Ateshgah
Life Insurance came in at number three, receiving 21.2 million
manat ($12.4 million), or 7.74 percent.
Over the reporting period, all Azerbaijani insurance companies paid
out a total of 274.8 million manat, or $161.6 million.
| Name of the insurance company | Disbursements (in manat) | Share by volume of payments in the market (percent) | Ranking position |
| Pasha Life Insurance OJSC | 144.7 million manat ($85 million) | 52,67 | 1 |
| Pasha Insurance OJSC | 54.5 million manat ($32 million) | 19,86 | 2 |
| Ateshgah Life Insurance Company OJSC | 21.2 million manat ($12.4 million) | 7,74 | 3 |
| Ateshgah Insurance Company OJSC | 8.6 million manat ($5. million) | 3,55 | 4 |
| Khalg Insurance OJSC | 5.8 million manat ($3.4 million) | 3,15 | 5 |
| A-Group Insurance Company OJSC | 5.6 million manat ($3.2 million) | 2,11 | 6 |
| Mega Insurance OJSC | 5.6 million manat ($3.2 million) | 2,06 | 7 |
| Agrar Insurance OJSC | 4.8 million manat ($2.8 million) | 2,06 | 8 |
| "Qala Insurance" Company OJSC | 3.7 million manat ($2.1 million) | 1,76 | 9 |
| Azerbaijan Industry Insurance OJSC | 2.8 million manat ($1.6 million) | 1,35 | 10 |
| TOTAL | 257.8 million manat ($151.5 million) | 92,77 | - |
To note, the total payments of the 10 leading insurance companies of Azerbaijan amounted to 557.3 million manat ($327.7 million) in 2023 (94.9 percent of the total amount of insurance payments).
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