Insurance premiums reduced in 70% of insurance companies in Azerbaijan

Overall, 55% of the insurance market accounted for five companies

Baku. 25 January. REPORT.AZ/ In 2015 PASHA Sigorta became a market leader in Azerbaijan in terms of premiums.

Report informs referring to the Azerbaijan Insurers Association (ASA), the company collected 64.8 mln AZN premiums. Insurances premiums of PASHA Heyat Sigorta is 54.5 mln AZN, Ateshgah Sigorta - 43,5 mln. AZN.The top five companies in terms of premiums Short Azersigorta with 41.4 mln AZN and Ateshgah Heyat Sigorta with 39.1 mln AZN completing the top five companies.Overall, 55% or 243 mln AZN insurance market accounted for the five companies.

The smallest amount of premiums collected by Basak-İnam (1 mln AZN), Amrah Sigorta (886 thousand AZN), Azergarant (300 thousand AZN), Gala Sigorta (80 thousand AZN) and Gunay Sigorta (62 thousand AZN) . The total market share of insurance premiums in these companies was 0.5% (approximately 2.3 mln. AZN).

Overall, of 27 companies 1 company collected more than 60 mln AZN, 1 company - more than 50 mln AZN, 2 companies - more than 40 mln AZN, 2 companies - more than 30 mln AZN, 1 company - more than 20 mln AZN, 9 companies - more than 10 mln. AZN 6 companies - from 1 to 5 mln. AZN 1 company - 0.5-1 mln. AZN, 4 companies - less than 0.5 mln AZN. There was an increase in 8 companies in 19 - reduction in insurance premiums.

During the period under review, PASHA Sigorta (29,9 mln. AZN) became a leader in terms of volume of insurance payments.

The following places are occupied by Ateshgah Heyat Sigorta (18,2 mln AZN), Qala Heyat Sigorta (17,6 mln AZN), PASHA Heyat Sigorta (16,3 mln AZN) and Azersigorta (13,2 mln AZN).As a result, 54% of insurance payments accounted for the said five.

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