AZERBAIJAN: TOP-5 insurers paid 85% of all the market claims in first seven months of 2020

3 September 2020 — Marina MAGNAVAL
From January to July 2020, the volume of claims paid by the TOP-5 insurers of Azerbaijan reached AZN 190 million (~EUR 95 million*), which represent 85% of all market paid claims, Trend reports referring to a report from the Central Bank of Azerbaijan.

The leader in terms of the paid claims volume for the first seven months of the year is PASHA Life (52.5% of all paid claims, AZN 117 million). It is followed by PASHA Insurance company (AZN 35 million or 15.6% of all paid claims), while Ateshgah Hayat ranked third (AZN 20 million or 8.8%). Xalq Sigorta and Ateshgah company took 4th and 5th places, respectively.

Total market paid claims of Azerbaijani insurers for the period amounted to AZN 223 million, which is AZN 69 million more than in January-July 2019.

* for the following exchange rate:
1 EUR = 2.0003 AZN (July 30th, 2020)

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