PremiumTop 10 Azerbaijan’s insurance companies in terms of payments

Baku, Azerbaijan, Oct. 29

By Eldar Janashvili - Trend:

From January through September 2019, the payments of top ten Azerbaijan’s insurance companies amounted to 181 million manat ($106 million, or 89.75 percent of the total insurance payments), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).

The ranking is headed by Pasha Life. Some 33.6 percent of the reimbursements paid by all companies during the reporting period accounted to this company. From January through September 2019, this company made payments of nearly 68 million manat (nearly $40 million).

Pasha Insurance with total payments of 38.3 million manat (nearly $23 million, or 19 percent of all payments) ranked second, while Ateshgah with total payments amounting to nearly 15 million manat (nearly $9 million, or 7.3 percent of all payments) ranked third.

From January through September 2019, insurance companies operating in Azerbaijan collected premiums worth 522.5 million manat ($307.3 million), a decline of 8 percent for the year; payments for the same period amounted to 201.7 million manat (nearly $119 million), an increase of 7.9 percent for the year.

The results of the activity of insurance companies from January through September 2019 have been announced by the FIMSA.

($1= 1.7 manat on Oct. 29)