AZERBAIJAN: Despite all the difficulties of 2020, the portfolio of PASHA Life grew by 16%

22 March 2021 — Marina MAGNAVAL
PASHA Life Insurance, the leading life insurance company in Azerbaijan, in 2020 generated GWP worth AZN 221 million (~EUR 105.79 million*). The company's paid claims reached AZN 205 million. Despite the difficult situation in 2020, PASHA Life's GWP portfolio grew by 16%, Trend reports.

At the same time, the company's net profit decreased by 23% y-o-y to AZN 20 million. Experts believe that one of the reasons was an increase in budgetary funds allocated for corporate social responsibility, since the company was actively involved in pandemic and war issues by implementing several socially significant projects.

By the end of 2020, total capital of PASHA Life Insurance reached AZN 61 million, total liabilities amounted to AZN 354 million. The company also managed to keep its total assets at the same level - on December 31, 2020, its total assets amounted to AZN 416 million.

* at the following exchange rate:

1 EUR = 2.0890 AZN (December 31st, 2020)

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