Azerbaijani A-Qroup showed premium growth in the first quarter

19 April 2018 —
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.

The biggest part (88.8%) of the insurer's GWP came from voluntary medical insurance. Premiums of MoD class doubled (compared to the same period of 2017), and travel insurance increased by 65%. Paid claims in the first quarter amounted to AZN 1.69 million (EUR 0.8 million), at that the biggest part of the paid claims also came from voluntary medical insurance (97.6%).

The insurer in general showed a stable positive trend during the first three months of 2018. A-Qroup is one of the oldest insurers of the Azerbaijani market, which is represented by 26 companies. The insurer has been working for more than 22 years. According to 2017 result A-Qroup took 12th place in terms of GWP.

*(for approximate conversion) 1 EUR = 2.0964 AZN (as of 16.04.2018)