BAKU, Azerbaijan, December 24. Total collections of 10 leading insurance companies from January through November 2024 in Azerbaijan amounted to 1.16 billion manat ($680 million), or 95.15 percent of total insurance collections.
The data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that PASHA Life Insurance topped the ranking on the volume of insurance collections in the reporting period, accounting for 44.37 percent of collections. The company's collections amounted to 542.3 million manat ($319 million).
PASHA Insurance took the second position in the ranking with total insurance collections of 291 million manat or $171 million (23.82 percent of all collections), and Ateshgah Life Insurance ranked third with collections of 80.1 million manat or $47 million (6.56 percent).
Total collections of all insurance companies in Azerbaijan from January through November 2024 amounted to 1.2 billion manat ($710 million).
|
Insurance company |
Collections, manat |
Market share by collections volume, % |
Ranking position |
|
PASHA Life Insurance OJSC |
542.3 million manat ($319 million) |
44.37 |
1 |
|
PASHA Insurance OJSC |
291 million manat ($171 million) |
23.82 |
2 |
|
Ateshgah Life Insurance Company OJSC |
80.1 million manat ($47 million) |
6.56 |
3 |
|
Qala Insurance Company OJSC |
72.99 million ($42.9 million) |
5.97 |
4 |
|
Ateshgah Insurance Company OJSC |
59 million ($34.7 million) |
4.84 |
5 |
|
Mega Insurance OJSC |
32.39 million ($19 million) |
2.65 |
6 |
|
Qala Life Insurance Company OJSC |
23.4 million ($13.76 million) |
1.92 |
7 |
|
Azerbaijan Industry Insurancе OJSC |
23.3 million ($13.7 million) |
1.91 |
8 |
|
Khalg Insurance OJSC |
21 million ($12.35 million) |
1.72 |
9 |
|
A-Group Insurance OJSC |
17 million ($10 million) |
1.39 |
10 |
|
TOTAL |
1.16 billion manat ($680 million) |
95.15 |
- |
To note, the total collections of 10 leading insurance companies in Azerbaijan amounted to 1.12 billion manat ($660 million), or 91.99 percent of the total insurance collections in 2023.