STATISTICS: AZERBAIJAN, 4M2016: 16.10% GWP growth in local currency

During the first fourth months of 2016, the Azerbaijani insurance industry grew, in local currency, by 16.10%, to AZN 192.73 million. Due to strong devaluation of the local currency (AZN) against USD/EUR, by almost 45%, in the European currency the insurance market decreased by 21.29%, to EUR 112.22 million.

A significant growth in terms of premiums was marked by Voluntary life insurance, Medical insurance, Fire and other perils insurance, Liability for owners of motor vehicles and other non-life insurance.

In the reporting period, in Azerbaijan have operated in total 28 insurance companies. The position of leaders in all insurance lines and a significant share have occupied by PASHA Insurance (with a market share - 28.56%) and PASHA Life (13.69% market share) - both members of PASHA Holding. AZERBAIJAN State Insurance Company is the third ranked, with a market share - 8.65%. On the following two places have occupied by ATESHAG and AESHGAH Life (6.75%).

Access www.xprimm.com and download the 4M 2016 Azerbaijani insurance market statistics.

Market portfolio and market ranking (in EUR and AZN):
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Market shares

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

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