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Baku. 12 August. REPORT.AZ/ Market share of the top five companies in terms of the amount of premiums collected is growing. Report informs they are " PASHA Insurance " JSC, " PASHA Life Insurance " JSC, " Ateshgah Insurance " JSC, " Ateshgah Life Insurance " JSC and " Azerinsurance "
According to the Financial Markets Supervision Chamber, these insurers, collected premiums in the amount of 183,6 mln AZN in the first half of this year. This is 64.3%.(285,4 mln. AZN) of country's total receipts.
At the end of the first half of 2015, share of the these companies was 57,6%. Thus, companies collected premiums in the amount of 139.7 mln AZN. Total revenues amounted to about 2424 mln AZN.
At the end of last year, "PASHA Insurance", " PASHA Life Insurance", "Ateshgah Insurance", "Ateshgah Life Insurance" and "Azersıgorta" collected 243.4 mln AZN collected. It means that only 5 companies control 54,9% of the market.
Notably, in 2015, insurance premiums amounted to 442.9 mln AZN. As can be seen the share of 5 companies slightly decreased at the end of last year. However, from the beginning of 2016 increased again.
| No | Insurance company | Market share | ||
| January-June, 2015 | January-December, 2015 | January-June, 2016 | ||
| 1 | PASHA Insurance | 16,28% | 14,63% | 22,64% |
| 2 | PASHA Life Insurance | 13,52% | 12,31% | 15,78% |
| 3 | Ateshgah Insurance | 10,85% | 9,83% | 7,47% |
| 4 | Ateshgah Life Insurance | 8,94% | 8,83% | 6,99% |
| 5 | Azerinsurance | 8,04% | 9,34% | 11,46% |
| Total | 57,63% | 54,94% | 64,34% | |
