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Azerbaijan-based 12 insurers decrease insurance payments

17 June 2015 13:56 (UTC +04:00)

Baku. APA-Economics - Musa Ahmadov. Gala Life Insurance heads the insurance market paying AZN 15.3 mln in January-May 2015, head of Azerbaijan Insurers Association Orkhan Bayramov told APA-Economics.

PASHA Insurance paid AZN 11.6 mln, Ateshgah Insurance – AZN 6.3 mln, Ateshgah Life Insurance – AZN 5.5 mln and AXA MBASK – AZN 4.9 mln. Total payments by these companies made AZN 43.6 mln or 58.5% of total payments.

The insurers doing fewer payments are Era-Trans (AZN 86,630), Gunay Sigorta (AZN 41,150), Silk Way Insurance (AZN 18,830), Chartis Azerbaijan (AZN 13,200) and Azergarant (AZN 1,432). Total payments of these insurers amount to AZN 161,240 or 0.2% of total payments.

Generally, 2 insurance companies’ payments made over AZN 10 mln, 2 companies – over AZN 5 mln, 10 companies – AZN 1-10 mln, 5 companies – AZN 0.5-1 mln, 3 companies – AZN 0.1-0.5 mln, 5 companies – below AZN 0.1 mln. 15 insurers increased payments, 12 decreased.