BAKU, Azerbaijan, March 28. The total collections of 10 leading insurance companies (ICs) in Azerbaijan amounted to 228.2 million manat ($134.25 million), or 95.21 percent of the total insurance collections from January through February 2024, Trend reports.
According to the Central Bank of Azerbaijan (CBA), PASHA Insurance ranked first in terms of insurance collection volume during the reporting period, accounting for 37.84 percent of total collections. The company's collections for the reporting period totaled 90.7 million manat ($53.35 million).
PASHA Life Insurance was ranked second with total insurance collections of 81.3 million manat or $47.8 million (33.95 percent of all collections), and Ateshgah Life Insurance was third with collections of 12.4 million manat or $7.3 million (4.79 percent).
The total collections of all insurance companies in Azerbaijan from January through February 2024 were 239.7 million manat ($141 million).
|
Insurance OJSC |
Collections |
Market share by collections volume, % |
Ranking position |
| Pasha Insurance | 90.7 million ($53.35 million) | 37.84 | 1 |
| Pasha Life Insurance | 81.39 million ($47.9 million) | 33.95 | 2 |
| Ateshgah Life Insurance | 12.47 million ($7.3 million) | 5.20 | 3 |
| Qala Insurance | 9.26 million ($5.4 million) | 3.87 | 4 |
| Ateshgah Insurance | 8.18 million ($4.8 million) | 3.41 | 5 |
| Agrar Insurance | 7.06 million ($4.15 million) | 2.94 | 6 |
| Mega Insurance | 6.86 million ($4.04) | 2.86 | 7 |
| Azerbaijan Industry Insurance | 5.08 million ($2.99 million) | 2.12 | 8 |
| Qala Life Insurance | 3.87 million ($2.27 million) | 1.62 | 9 |
| Khalg Insurance | 3.33 million ($1.96) | 1.39 | 10 |
|
TOTAL |
228.2 million ($134.24 million) | 95,21 | - |
Meanwhile, Azerbaijan's top ten ICs collected 1.1 billion manat ($647 million), or for 91.99 percent of overall insurance collections in 2023.
