STATISTICS: AZERBAIJAN, 3Q: Top 3 largest insurers accounted for about half of the market GWP

At the end of September 2016, the Top 3 Azerbaijan insurers in GWP terms were PASHA Sigorta (about 21% market share), followed by PASHA Life Insurance (15.8%) and AzerSigorta (9.4%), according to the latest quarterly market figures.

Overall, Azerbaijan's 25 insurance companies reported aggregate gross written premiums of AZN 390 million in January-September 2016, which is 15.05% more than in the same period of 2015.

Due to exchange rate variations, in European currency, the insurance market decreased by more than 25%, to EUR 215 million.

During the analysed period, claims paid by the local insurers totaled AZN 167 million, up by 31% y-o-y.

Access and download the 3Q2016 Azerbaijani insurance market statistics.

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