According to a ranking by APA-Economics, Baku Insurance enjoyed the highest growth rate for premium collection among insurers in the country.
Baku Insurance earned AZN 3.87 million in premiums, up 35 times (3418.18%) on a year earlier.
The company is followed by Star Alliance (675%) and Kavkaz Sighorta.
The share of these three companies in premium collection made 7.4% of the total premium earning.
8 insurers saw a decline in premium collection. With the highest decline, Amrah Sighorta’s collection fell 90.91%.
There are 28 insurance companies in Azerbaijan. At the end of the first half of 2008, their total share capital reached AZN 77.678 million, revenues made AZN 133.295 million, expenditures AZN 120.365 million and profit AZN 12.930 million.
The insurance companies paid AZN 792.991 million in total to the state budget during January-June.
 | Insurers | Rise/Fall (%) |
1 | Baku Insurance | 3418,18% |
2 | Star Alliance | 675,00% |
3 | Kavkaz Sighorta | 376,32% |
4 | Fidan Sighorta | 280,00% |
5 | AzSighorta | 203,87% |
6 | Gunay-Anadolu | 174,07% |
7 | Absheron Sighorta | 166,67% |
8 | MBASK | 166,17% |
9 | International Insurance Company | 138,52% |
10 | BE&G | 104,88% |
11 | Pasha Sighorta | 75,82% |
12 | Nishan Sighorta | 66,67% |
13 | Xalq Sighorta | 64,44% |
14 | Azerbaijan Industry Insurance | 48,53% |
15 | Standard Ä°nsurance | 18,68% |
16 | Azerqarant | 18,60% |
17 | A-Group | 13,79% |
18 | Azersighorta | 12,31% |
19 | Bashak-Ä°nam | 6,92% |
20 | Azal Sighorta | - 1,05% |
21 | Era Trans | - 4,90% |
22 | AtaSighorta | - 13,82% |
23 | AIG Caspian Ä°nsurance Company | - 23,81% |
24 | Thames Ä°nsurance Group | - 27,93% |
25 | Alfa Sighorta | - 41,43% |
26 | Ateshgah | - 41,82% |
27 | Amrah Sighorta | - 90,91% |
28 | Qarant Sighorta | Established in November, 2007 |
Unlicensed | ||
1 | Azər-Asiya | - 77,08% |
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