Azerbaijan-based 17 insurers see decline in premiums

Azerbaijan-based 17 insurers see decline in premiums
# 16 July 2014 15:29 (UTC +04:00)

Baku. Parviz Nuriyev - APA-Economics. Pasha Insurance headed the market for insurance premiums during January-June, 2014.

According to Azerbaijan Insurers Association, AZN 31.2 mln was collected during 6 months. Second place was held by Ateshgah Life with the insurance premiums of AZN 22.7 mln, third place by Pasha Life (AZN 21.9 mln).

Azersigorta (AZN 18.9 mln) and AzSigorta (AZN 17.9 mln) ranked fourth and fifth.

The less insurance premiums were collected by Amrah Sigorta (AZN 431,000), Era-Trans (AZN 335,000), Azergarant (AZN 318,000), Gunay Sigorta (AZN 121,000), Chartis Azerbaijan (AZN 39,000) and Royal Sigorta (AZN 2,255).

Total insurance premiums of 7 fro 28 insurers exceeded AZN 10 mln, 6 insurers – in the range of AZN 5-10 mln, 9 companies – AZN 1-5 mln, 6 insurers below AZN half million.

Regarding payment, Pasha Sigorta paid AZn 13.3 mln, Ateshgah Sigorta – AZN 6.8 mln, Azersigorta – AZN 6.6 mln, Azerbaijan Industry Insurance – AZN 6.5 mln, AzSigrta – AZN 4.6 mln and AXA MBASK – AZN 4.5 mln .Total payments of these insurers made AZN 42.3 mln (65%).

The lowest payments have been done by Azergarant (AZN 47,400), Gunay Sigorta (AZN 26,100), Royal Sigorta (AZN 8,300) and Chartis Azerbaijan (AZN 272). Total payments of these companies made AZN 140,000 (0.4%).

11 insurers increased premiums, 17 insurers declined.

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