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.

Share |

Related articles

Azerbaijani A-Qroup showed premium growth in the first quarter

A-Qroup based on its 2018 first quarter results saw a gross premium growth assessed at 13% - said the insurer's official report. Insurer's total premium volume amounted to AZN 1.83 million (EUR 0.87 million) in 1Q2018, thus exceeding the similar result of the previous year.

2018-04-19

Insurance market of Azerbaijan in the beginning of 2018

PASHA Sigorta collected in January 2018 more insurance premiums than any other insurance company in Azerbaijan, according to the Financial Market Supervisory Authority (MBNP), January GWP amounting to AZN 41.23 million (EUR 20.14 million) or 49.8% of total in Azerbaijan.

2018-03-08

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all