AZERBAIJAN: in January-March, 5 insurers accounted for more than 81% of GWP and over 75% of all paid claims

3 May 2022 — Marina MAGNAVAL
In January-March 2022, 5 insurance companies generated AZN 210.73 million (~EUR 112 million) or 81.55% of the total GWP in Azerbaijan, ABC.AZ reports.

The five leaders include PASHA Hayat Sigorta, PASHA Sigorta, Gala Sigorta, Atesgah Hayat Sigorta and Xalq Sigorta.

On the other hand, the insurance companies that collected the least premiums during the period include Meqa Hayat Sigorta, Naxchivan Sigorta, Baki Sigorta, Atasigorta and Gunay Sigorta. Their combined share in market GWP was only 1.9%.

In total market paid claims for January-March 5 insurance companies paid AZN 46.42 million (~EUR 24.67 million) or 75.8% of all insurance sector's paid claims.

The top five in terms of paid claims include PASHA Sigorta, Pasha Hayat Sigorta, Azersigorta, Xalq Sigorta and Ateshgah Hayat Sigorta.

The insurance companies that paid the least in the first quarter were Meqa Hayat Sigorta, Xalq Hayat Sigorta, Ipek Yolu Sigorta, Naxchivan Sigorta and Agricultural Insurance Joint Insurance Company. Their combined share in total market paid claims was 0.4%.

*EUR 1 = AZN 1.881 (01.04.2022)

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