As ABC.AZ reports, the top five include PASHA Hayat Sigorta (AZN 376 million), PASHA Sigorta (AZN 194.54 million), Ateshgah Hayat Sigorta (AZN 45.98 million), Xalq Sigorta (AZN 38.10 million) and Qala Sigorta (AZN 36.50 million).
The 5 companies that collected the least amount of premiums in 11 months accounted for only 2.5% of the market. While GWP of the remaining 10 insurance companies amounted to AZN 161.82 million or 18.5%.
Executive Director of the Association of Insurers of Azerbaijan Elmar Mirsalayev believes that 2023 will be a year of new opportunities, new indicators of progress and new positive records for the insurance sector of Azerbaijan.
'The growth target of the domestic insurance market for 2022-2026 is set at 10%. In 2021, growth was recorded at 16%. I think we can see growth rise above 10% again when 2022 annual results are released. As I already mentioned, the domestic insurance market is in a new and stable phase of development, and the steady growth trend in this sector is fully secured. 2023 will be a year of new opportunities, new indicators of progress and new positive records for the Azerbaijani insurance sector. It is gratifying that insurance habits in the country are being formed gradually and in stages. Most of our citizens already agree that if the risk is inevitable, then insurance is indisputable", Elmar Mirsalaev emphasized.
*EUR 1 = AZN 1.77 (01.12.2022)
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