BAKU, Azerbaijan, December 25. The total payments of 10 leading insurance companies from January through November 2024 in Azerbaijan amounted to 660.6 million manat, or $388.59 million (94.38 percent of total insurance payments), Trend reports.
Following the results of the reporting period, the ranking on the volume of insurance payments was headed by PASHA Life Insurance, which accounted for 56.15 percent of the total insurance payments of all companies. In the reporting period of 2024, it made payments amounting to 389.6 million manat ($229.18 million).
The second position in the ranking was taken by PASHA Insurance, with total payments of 128.69 million manat, or $75.7 million (18.54 percent of all payments), and the third position was taken by Ateshgah Life Insurance, with payments of 50.2 million manat, or $29.5 million (7.24 percent).
Total payments of all insurance companies of Azerbaijan in the reporting period amounted to 694 billion manat ($408 million).
|
Name of insurance company |
Payouts |
Market share by disbursement volume, % |
Ranking position |
|
PASHA Life Insurance OJSC |
389.6 million manat ($229.18 million) |
56.15 |
1 |
|
PASHA Insurance OJSC |
128.69 million manat ($75.7 million) |
18.54 |
2 |
|
Ateshgah Life Insurance Company OJSC |
50.2 million manat ($29.5 million) |
7.24 |
3 |
|
Ateshgah Insurance Company OJSC |
24.47 million manat ($14.39 million) |
2.21 |
4 |
|
Khalg Insurance OJSC |
15 million manat ($8.8 million) |
3.53 |
5 |
|
A-Group Insurance Company OJSC |
14 million manat ($8 million) |
2.21 |
6 |
|
Mega Insurance OJSC |
11.97 million manat ($7 million) |
2.03 |
7 |
|
Aqrar Insurance OJSC |
10.9 million manat ($6.4 million) |
1.73 |
8 |
|
Qala Insurance Company OJSC |
9.6 million manat ($5.6 million) |
1.57 |
9 |
|
Azerbaijan Industry Insurance OJSC |
5.6 million manat ($3.29 million) |
1.39 |
10 |
|
TOTAL |
660.6 million manat ($388.59 million) |
94.38 |
- |
To note, the total payments of the 10 leading insurance companies of Azerbaijan amounted to 557.3 million manat ($327.8 million) (94.9 percent of the total amount of insurance payments) in 2023.