56% of total insurance market accounted for five companies in Azerbaijan

Baku. 19 November. REPORT.AZ/ In January-October 2015, PASHA Sigorta became market leader in terms of insurance premiums. According to the Azerbaijan Insurers Association (ASA), the company collected 57.5 mln AZN premiums for 10 months.

Report informs referring to ASA, in second place PASHA Heyat Sigorta collected 48 mln AZN insurance fees, Ateshgah Sigorta - 37,6 mln. AZN.Azersigorta collected 36.5 mln AZN and Ateshgah Heyat Sigorta - 32.7 mln. AZN.Overall, 56% or 212 , mln AZN of insurance market accounted for these five companies.

The smallest amount of premiums collected by Basak-İnam (914 thousand AZN), Amrah Insurance (740 thousand AZN), Azergarant (212 thousand AZN), Chartis Azerbaijan (62 thousand AZN) and Gunay Insurance (60 thousand AZN). The total market share of insurance premiums in these companies was 0.5% (about 2 mln AZN).

Era-Trans, whose license was suspended in November 2014 and liquidated in June 2015, failed to collect premiums.

Overall, 1 company of the 27 collected more than 50 mln AZN, 1 company - more than 40 mln AZN, 3 companies - more than 30 mln AZN, 1 company - more than 20 mln AZN, 5 companies - more than 10 mln AZN, 4 companies - between 5-10 mln 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 saw an increase in the 18 - reduction in insurance premiums.

During the period under review PASHA Sigorta (24,6 mln. AZN) is the leader in volume of insurance payments.

The following places are occupied Qala Sigorta (16,4 mln AZN), Ateshgah Insurance (13,1 mln AZN).The top five companies in terms of insurance premiums are Ateshgah Heyat Sigorta (11 mln AZN) and Azersigorta (10,5 mln AZN).Overall, approximately 54% or 75.6 mln AZN insurance premiums accounted for the top five companies.

The smallest amount of insurance benefits fell to the share of the Era-Trans (179 thousand AZN), Gunay Insurance (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% (316 thousand AZN).

Overalall, 1 company from 27 companies made insurance payments in the amount of more than 20 mln AZN 4 companies - more than 10 mln AZN, 5 companies - more than 5 mln AZN 9 companies - 1-5 mln AZN 3 companies - 0.5-1 mln AZN 2 companies - 0.1-0.5 mln AZN 3 companies - less than 0.1 mln AZN. There was an increase in 16 companies and reduction of insurance payments in 11 companies.