STATISTICS: Azerbaijan, 3Q2017: The two PASHA units generate about half of the insurance market

In the first nine months of 2017, GWP written by the Azeri insurance companies totaled AZN 414.35 million, increasing by 6.15% y-o-y, while the claims paid increased by 12.94% and totaled AZN 188.58 million.

In the reporting period, a negative GWP dynamics has been recorded by the non-life types of insurance: accident and diseases (down by 6.94%), fire and other perils insurance (8.32%), cargo insurance (12.47%), GTPL (25.46%), Motor Hull (3.26%), aircraft insurance (13.22%), ships liability insurance (42.04%), mandatory immovable property (4.02%), military servants (66.05%) and servants of judicial and law-enforcement bodies (33.00%).

In 3Q2017, the life insurance segment saw a positive evolution, with GWP up by 31.13% to AZN 123.88 million, especially due to voluntary life insurance.

In terms of GWP, the two PASHA units generate about half of the insurance market, AZN 205.81 million and with market share 49.67%

Access www.xprimm.com and download the 3Q2017 Azerbaijani insurance market statistics.

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

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