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).

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