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Over half of Azerbaijan-based insurers see decline in premiums

17 June 2015 10:58 (UTC +04:00)

Baku. APA-Economics - Musa Ahmadov. Pasha Insurance heads the insurance market for insurance premiums collected in January-May 2015, said the chairman of Azerbaijan Insurers Association Orkhan Bayramov.

The company collected AZN 36 mln during five months. The next places are held by Pasha Life Insurance (AZN 29.5 mln), Ateshgah Insurance (AZN 20.8 mln), Ateshga Life Insurance (AZN 18.5 mln) and Azersigorta (AZN 16.2 mln). Totally, 59.7% of market falls to share of first five companies (AZN 124 mln).

The companies with the less premiums are Revan Sigorta (AZN 816,000), Bashak Inam (AZN 564,000), Amrah Sigorta (AZ 394,000), Azergarant (AZN 135,000) and Gunay Sigorta (AZN 41,000). Total premiums of these companies made AZN 1.95 mln or 0.9% of insurance premiums.

Generally, 2 insurance companies’ premiums made over AZN 20 mln, 4 companies – over AZN 10 mln, 5 companies – AZN 5-10 mln, 8 companies AZN 1–5 mln, 2 companies AZN 0.5-1 mln, 6 companies below AZN 500,000. 11 insurers increased premiums, 16 decreased.