STATISTICS:

STATISTICS: AZERBAIJAN, 1Q2017: GWP down by 1%, while claims paid increased by almost 15%

Gross premiums written by the local insurance companies totaled AZN 150.68 million, decreasing by 1.12% as compared with 1Q2016. Claims paid totaled AZN 60.29 million (EUR 32.76 million), up by 14.67% y-o-y.

According to the data published by the Azeri Financial Market Supervisory Authority (FIMSA), the local insurance market is dominated by the two companies of the PASHA group, ATESHGAH subsidiaries and the State insurer AzerSigorta.

The Top-5 Azerbaijan insurers in GWP terms generated about 69.77% of the total premiums production, and were formed by the following insurers: PASHA Sigorta (about 32.98% market share), PASHA Life Insurance (21.30%), ATESHGAH Hayat (5.45%), AzerSigorta (5.14%) and ATESHGAH Sigorta (4.89%).

Access www.xprimm.com and download the 1Q2017 Azerbaijani insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all