An increasing number of technical bankrupt insurance

Technically bankrupt by August 1 of this year were three insurance companies whose payments exceeded the level of premiums. In the past year, the list of losers was only one structure.

Most affected team is Azerbaycan Senaye Sigorta, which gathered 6,256,000 and paid 7,267,000 manat. Imbalance occurs in A-Group for several years. This year it has received 3,674,000 manat and paid 3.93 million manat. The company Royal Sigorta is difficult to understand (premiums – 2 254 manat and payments – 8 313 manat), in connection with the bankruptcy of the bank of the same name. On the one hand, its activities have been suspended by order of the Minister of Finance, on the other hand, it is listed in the registry.

According to the State Insurance Supervision Service under the Ministry of Finance in January-July, the leading dozen was headed by Pasha Insurance which provided 79.23% of the total (251 710 000 AZN) insurance premiums. For comparison - in the previous year, its share was 73.71%, while in 2012 - 43.61%. This means squeezing other participants from the niche. Forecasts of the Chief of the Service, Namik Khalilov, come true, meaning that the market has a lot of extra players, without which "it would be easier to breathe."

Thus, the leader is usually the company Pasha Insurance (held by the relatives of Mehriban Aliyeva) with a specific gravity of 13.18% of all the premiums – 33 186 000 manat. In the following step of the podium, there are two life insurance companies, which is observed for the first time - at AteshgahHayatSigorta there is 25.55 mln AZN and a direct competitor in the face of PashaHayatSigorta has 25.13 mln. AZN. The state commercial structure Azersigorta has 23 990 000 manat for the mandatory insurance of military and law enforcement personnel. In fifth place is the company of the head of MOE, AzSigorta – 21.22 mln AZN. The sixth is Ateshgah – 20.68 mln AZN. The seventh place is Ipek Yolu Sigorta – 16.33 mln. AZN, and in last place among the leaders are Qala Hayat Sigorta (also first rose to the 8th place) with 12.83 million manat, AXA MBASK with 10.73 million manat and Standard Insurance with 9.8 million. manat.

Leaders in the volume of payments in January and July were Pasha Insurance (15.39 mln AZN), Ateshgah Sigorta (8.16 mln AZN) and Azersigorta (7.69 mln AZN). Total by 1 August there was paid 77.96 million manat. -17D-

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