BAKU, Azerbaijan, November 26. Total collections of 10 leading insurance companies in Azerbaijan amounted to over 1 billion manat ($588.2 million), or 95.12 percent of total insurance collections from January through October 2024, Trend reports.
According to the Central Bank of Azerbaijan (CBA), Pasha Life Insurance topped the ranking on the volume of insurance collections in the reporting period, accounting for 44.98 percent of collections. The company's collections amounted to 500.1 million manat, or $294.1 million.
PASHA Insurance took the second position in the ranking with total insurance collections of 263.5 million manat or $155 million (23.7 percent of all collections), and Ateshgah Life Insurance ranked third with collections of 70.8 million manat or $41.6 million (6.37 percent).
Total collections of all insurance companies in Azerbaijan amounted to 1.1 billion manat, or $652.9 million, from January through October 2024.
| Insurance OJSC | Collections, manat | Market share by collections volume, percent | Ranking position |
| Pasha Life Insurance OJSC | 500.1 million ($294.1 million) | 44,98 percent | 1 |
| Pasha Insurance OJSC | 263.5 million ($155 million) | 23,70 percent | 2 |
| Ateshgah Life Insurance Company OJSC | 70.8 million ($41.6 million) | 6,37 percent | 3 |
| Qala Insurance Company OJSC | 66.4 million ($39 million) | 5,98 percent | 4 |
| Ateshgah Insurance Company OJSC | 52.8 million ($31 million) | 4,76 percent | 5 |
| Mega Insurance OJSC | 29.9 million ($17.5 million) | 2,70 percent | 6 |
| Azerbaijan Industry Insurancе OJSC | 21.3 million ($12.5 million) | 1,92 percent | 7 |
| Qala Life Insurance Company OJSC | 20.3 million ($11.9 million) | 1,83 percent | 8 |
| Khalg Insurance OJSC | 19.7 million ($11.5 million) | 1,78 percent | 9 |
| Agro Insurance OJSC | 12.4 million ($7.29 million) | 1,12 percent | 10 |
| TOTAL | 1 billion ($588.2 million) | 95,12 percent | - |
To note, the total collections of 10 leading insurance companies in Azerbaijan amounted to 1.124 billion manat, or 91.99 percent of the total insurance collections in 2023.
