BAKU, Azerbaijan, April 29. Total payments of 10 leading insurance companies of Azerbaijan amounted to 56.7 million manat ($33.3 million, 92.65 percent of total insurance payments) from January through March 2022, Trend reports citing the Central Bank of Azerbaijan Republic (CBAR).
According to the results of reporting period, the ranking in terms of insurance payments was headed by Pasha Insurance Company, which accounted for 28.06 percent of total insurance payments of all companies. PASHA Insurance made payments for 17.1 million manat ($10.1 million) in 1Q2022.
The second position in the ranking was taken by Pasha Life Insurance with a total volume of payments in the amount of 14.3 million manat ($8.4 million, 23.4 percent of all payments) and the third – by Azerinsurance State Insurance Company- with payments for 6.3 million manat ($3.7 million, 10.37 percent of all payments).
The total payments of all insurance companies in Azerbaijan amounted to 61.2 million manat ($36 million) in 1Q2022.
The results of activities of insurance companies in 1Q2022 have been published by CBAR.
|
Name of insurance company |
Payouts in 1Q2022 |
Market share in terms of payouts in 1Q2022 |
Place in the ranking in 1Q2022 |
|
PASHA Insurance |
17.1 million manat ($10.05 million) |
28.06 percent |
1 |
|
PASHA Life |
14.3 million manat ($8.4 million) |
23.4 percent |
2 |
|
Azerinsurance |
6.3 million manat ($3.7 million) |
10.3 percent |
3 |
|
Xalg Insurance |
5.7 million manat ($3.3 million) |
9.3 percent |
4 |
|
Ateshgah Life |
2.8 million manat ($1.6 million) |
4.6 percent |
5 |
|
Ateshgah Insurance |
2.7 million manat ($1.5 million) |
4.5 percent |
6 |
|
A-Group Insurance |
2.7 million manat ($1.5 million) |
4.5 percent |
7 |
|
Ata Insirance |
1.7 million manat ($1 million) |
2.9 percent |
8 |
|
AZ Insirance |
1.7 million manat ($1 million) |
2.7 percent |
9 |
|
Qala Life |
1.3 million manat ($764,700 million) |
2.1 percent |
10 |
|
TOTAL |
56.7 million manat ($33.3 million) |
92.6 percent |
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