56% of Azerbaijani insurance market accounted for 5 companies

Baku. 29 December. REPORT.AZ/ In January-November 2015, PASHA Sigorta became a market leader in terms of volume of insurance premiums.

Report informs referring to the Azerbaijan Insurers Association (ASA), the company collected 59.7 mln AZN premiums for 11 months.Insurance fees of PASHA Heyat Sigorta located on the second line made 50.9 mln AZN, Ateshgah Sigorta - 40,8 mln AZN. The top five companies in terms of premiums close Azersigorta with 38.2 mln. AZN and Ateshgah Heyat Sigorta with 35 mln. AZN.Overall, 56% or 225 mln. AZN insurance market accounted for that five companies.

The smallest amount of premiums collected by Basak-İnam (961 thousand AZN), Amrah Sigorta (818 thousand AZN), Azergarant (221 thousand AZN), Chartis Azerbaijan (62 thousand AZN) and Gunay Sigorta (62 thousand AZN).The total market share of insurance premiums in these companies was 0.5% (about 2.1 mln. AZN).

Overall, from 27 companies 2 companies collected more than 50 mln. AZN, 1 company - more than 40 mln. AZN, 3 companies - more than 30 mln AZN, 5 companies - more than 10 mln AZN, 5 companies - from 5 to 10 mln AZN, 5 companies - from 1 to 5 mln AZN 2 companies - 0.5-1 mln AZN 4 companies - less than 0.5 mln AZN. In 8 companies, there was an increase in insurance premiums, in 19 - reduction.

During theperiod under review leader in volume of insurance payments - PASHA Sigorta (27,4 mln AZN).

The following places are occupied by Qala Heyat Sigorta (17 mln AZN), Ateshgah Sigorta (14,4 mln AZN), Ateshgah Heyat Sigorta (12,8 mln AZN) and Azersigorta (11,6 mln. AZN).As a result, 53%, or about 83 mln AZN insurance premiums accounted for the said five.

The smallest amount of insurance benefits fell to the share of the company Era-Trans (183 thousand AZN), Gunay Sigorta (82 thousand AZN), Chartis Azerbaijan (53 thousand AZN) and Azergarant (2 thousand AZN).The total market share of insurance payments to these companies amounted to 0.2% (356 thousand AZN).

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