18 insurance companies based in Azerbaijan reduced insurance premiums

Baku. 21 October. REPORT.AZ/ In January-September of this year, the market leader in terms of insurance premiums became company PASHA Sigorta. 

Report informs referring to the Azerbaijan Insurers Association (ASA), the company for 9 months has collected premiums of 48.25 million manats. Insurance companies located on the second line is PASHA Heyat Sigorta with premiums of 42.6 million manats, Ateshgah Sigorta - 35,3 mln. AZN. The top five companies ranking ends with Ateshgah Heyat Sigorta of 30.2 mln. AZN and Azersigorta of 29.3 mln. AZN. Overall, 54.7% or 185 600 000 manats of the insurance market accounted for these five companies.

The smallest amount of premiums was collected by the company Bashak-İnam (849 ths. manats), Amrah Insurance (666 ths. manats), Azergarant (203 ths. manats) to restore the activity last month Chartis Azerbaijan (62 th. manats) and Gunay Insurance ( 56 th. manats). The total market share of insurance premiums in these companies was 0.5% (1.84 mln. AZN).

Insurance company Era-Trans, whose license was suspended in November of last year and liquidated in June of 2015, failed to collect premiums.

Overall,of the 27 companies 2 companies collected more than 40 mln. AZN, 2 companies - more than 30 mln. AZN, 2 companies - more than 20 mln. AZN, 5 companies - more than 10 mln. AZN, 4 companies - between 5-10 million AZN, 6 companies - from 1 to 5 mln. AZN, 2 companies - 0.5-1 mln. AZN, 4 companies - less than 0.5 mln. manats. At 9 companies was observed an increase, but at 18 companies reduction in insurance premiums.

During the period the volume of insurance payments leader PASHA Sigorta (21,7 mln. AZN). The following places are occupied by Qala Heyat Sigorta (16,3 mln. AZN). Ateshgah Insurance (11,5 mln. AZN).

The top five companies in terms of insurance premiums ends by Ateshgah Heyat Sigorta (10,3 mln. AZN) and Azersigorta (9,3 mln. AZN). Overall, about 54.3% or about 69.2 million. AZN insurance premiums accounted for the top five companies.

The smallest amount of insurance benefits fell to the share of the company Era-Trans (179 th. manats), Gunay Insurance (82 th. manats), Chartis Azerbaijan (53 th. manats), Silk Way Insurance (40 th. manats) and Azergarant (2 th. manats). The total market share of insurance payments to these companies amounted to 0.3% (356 th. manats).

Overall, of the 27 companies 1 company made insurance payments in the amount of more than 20 mln. AZN 3 companies - more than 10 mln. AZN, 6 companies - more than 5 mln. AZN, 9 companies - 1-5 mln. AZN, 2 companies - 0.5-1 mln. AZN, 2 companies - 0.1-0.5 mln. AZN, 4 companies - less than 0.1 mln. manats. At the 15 companies was observed an increase, at 12 companies reduction of insurance payments.