AZERBAIJAN: Top-10 Azeri insurance firms on payments volume changes

The Azerbaijani Finance Ministry announced results of operations of the top ten insurance companies for January-July. 82 percent of the total insurance payments accounted for them.

28 insurance companies and one reinsurance company operated in Azerbaijan during that period.

SK Pasa Sigorta led the ranking on insurance payments as in the previous month, which accounted for almost quarter of premiums collected by all companies in January-July. During the reporting period, the company paid 11.996 million manat.

It is due to selection of Pasa Sigorta as an insurer of Azerbaijani state oil company SOCAR for voluntary health insurance.

Azerbaijan Republic State Insurance Commerce Company Azərsigorta with payments amounted to 6.516 million manat (13.17 percent of all collections of the market) and Atesgah Sigorta - 4.571 million manat (9.24 percent) ranked the second and third respectively.

Insurance Company Ata Sigorta fell from the list of companies with the highest volume of payments in July, and was replaced by Atesgah Heyat. The payments of Atesgah Heyat (the only life insurance company ranked in the TOP-10) increased by 3.89 times last month, or by 1.28 million manat. Thus, the company has risen from 17th position to 9th.

Except this there were no changes in the TOP-10 companies on payment volume.

The total premiums amounted to 201.509 million manat in the first seven months (73.01 percent-increase per year) and claims in this period hit 49.469 million manat (51.7 percent increase).

Read the full story on www.azernews.az.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

AIG Life Limited (UK) announces the appointment of a new CEO

AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all