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Most of Azerbaijan-based insurers decrease insurance premiums

16 September 2014 10:54 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. In January-August, 2014, 11 insurers increased insurance premiums, 17 decreased in Azerbaijan.

According to Azerbaijan Insurers Association, Pasha Sigorta headed the market with the insurance premiums of AZN 35 mln.

The second place was held by Azersigorta with the premiums of AZN 28.4 mln. Ateshgah Life ranked 3^rd with AZN 28.2 mln. Pasha Life collected AZN 27.9 mln, AzSigorta – AZN 24.4 mln. 51% of market fell to share of top five insurers.

Insurers with the lowest insurance premiums are Amrah Sigorta (AZN 581,000), Era-Trans (AZN 365,000), Azergarant (AZN 323,000), Gunay Sigorta (AZN 135,000), Chartis Azerbaijan (AZN 39,000) and Royal Sigorta (AZN 2,255). Total premiums of these companies made AZN 1.45 mln, 0.5% of total insurance premiums.

10 insurers collected over AZN 10 mln insurance premiums, 5 insurers – AZN 5-10 mln, 7 insurers – AZN 1-5 mln, 6 insurers – below AZN 1 mln.