AZERBAIJAN: PASHA Life Insurance business grows by 47% in the first quarter

3 May 2023 —
The leader of the insurance sector, life insurance company PASHA Life Insurance, increased its profit to AZN 9.5 million (~EUR 5.13 million) in the first quarter of 2023. At the same time, the company's paid claims tripled y-o-y, amounting to AZN 48 million, Trend reports.

The company's GWP in the first three months also recorded growth - by 47% to AZN 124 million. The largest part was made up of such products as accumulative life insurance and compulsory life insurance (AZN 99 million and AZN 11 million, respectively).

Total assets of PASHA Life in the first quarter increased by 26% y-o-y and reached AZN 613 million, total equity of the company amounted to AZN 80 million. Total income of the insurer increased by 6% to AZN 9 million.

*EUR 1 = AZN 1.85 (as of 01.04.2023)