AZERBAIJAN: from January to August, 84% of paid claims and 80% of premiums accounted for by only 5 insurance companies

5 October 2022 —
Total amount of paid claims in Azerbaijan from January to August 2022 reached AZN 283.67 million (~EUR 164.92 million), while AZN 238.21 million or 84% fell on 5 insurance companies only, ABC.AZ reports citing Renkinq.

The leaders in terms of paid claims are PASA Hyat Sigorta (AZN 142.37 million), PASA Sigorta (AZN 48.03 million), Xalq Sigorta (AZN 16.92 million), Atsgah Hyat Sigorta (AZN 15.59 million) and Azrsigorta (AZN 15.28 million).

At the same time, out of AZN 654.91 million (~EUR 380.76 million) of GWP collected in Azerbaijan in January-August this year, AZN 522.24 million or 79.8% also fell on the share of 5 insurance companies: PASA Hyat Sigorta (AZN 278.98 million), PASA Sigorta (AZN 153.503 million), Atsgah Hyat Sigorta (AZN 33.17 million), Qala Sigorta (AZN 30.447 million) and Xalq Sigorta (AZN 26.142 million).

*EUR 1 = AZN 1.72 (01.09.2022)