BAKU, Azerbaijan, February 26. The total collections of 10 leading insurance companies (ICs) in Azerbaijan amounted to 138.4 million manat ($81.4 million), or 96.16 percent of the total insurance collections in January 2024, Trend reports.
According to the Central Bank of Azerbaijan (CBA), PASHA Insurance topped the ranking on the volume of insurance collections in the reporting period, accounting for 47.72 percent of collections in the reporting period. The company's collections in the reporting period amounted to 68.7 million manat ($40.4 million).
The second position in the ranking was taken by PASHA Life Insurance with total insurance collections of 37.8 million manat ($22.2 million) (26.26 percent of all collections), and the third position was taken by Aqrar Insurance with collections of 6.8 million manat ($4 million) (4.79 percent).
Total collections of all insurance companies in Azerbaijan in January 2024 amounted to 143.9 million manat ($84.6 million).
|
Name of the Insurance Company |
Fees (in manat) |
Share by volume of collections in the market |
Ranking position |
| Pasha Insurance OJSC | 68, 700, 638 ($40.4 million) | 47,72% | 1 |
| Pasha Life Insurance OJSC | 3,7 81,0 713 ($22.2 million) | 26,26% | 2 |
| Aqrar Sığorta | 6,898,738 ($4 million) | 4,79% | 3 |
| Ateshgah Life Insurance Company OJSC | 5,004,000 ($2.9 million) | 3,48% | 4 |
| Mega Life Insurance OJSC | 4, 857, 171 ($2.8 million) | 3,37% | 5 |
| Ateshgah Insurance Company OJSC | 4,186,670 ($2.4 million) | 2,91% | 6 |
| Mega Insurance OJSC | 4, 071, 612 ($2.3) | 2,83% | 7 |
| Azerbaijan Industry Insurance (OJSC) | 3,481,488 ($2 million) | 2,42% | 8 |
| Qala Insurance Company OJSC | 2, 283, 116 ($1.2 million) | 1,59% | 9 |
| Khalg Insurance OJSC | 1,150,310 ($647,000) | 0,80% | 10 |
|
TOTAL |
138, 444, 455 ($81.1 million) | 96,16% | - |
Meanwhile, the total collections of the top 10 insurance companies (ICs) in Azerbaijan amounted to 1.1 billion manat ($647 million), or 91.99 percent of the total insurance collections in 2023.
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