Insurance funds centralized in Azerbaijan

In January-May the insurance market participants collected 186.911 million manat with payments of premiums totaling 55.211 million manat (29.54% direct expenses). Premium growth for the year was 18.22 million manat or 10.8%.

One company operated at a loss - the premiums of the insurance company Azerbaycan Senaye Sigorta totaled 4.173 million with payments of 6.256 million manat.

The top five account for more than half (55.25%), the top ten companies raised more than three-quarters (77%) of all premiums. It is a measure of centralization of finance - in 2012 on the account of 10 rating structures there was slightly more than half of funds collected from customers. As an example, we call the leader, - on the account of Pasha Insurance ​​managed by the cousins of the President's wife Mehriban Aliyeva, there are 16.6% of all awards (2013 by June 1 it was 13.24% and in 2012 - 8.59% at the same leading position).

The ten included Pasha Insurance (31.03 million), Ateshgah Hayat (20.24 million), Pasha Hayat (19.49 million), Azersigorta (17.41 million), AzSigorta (15.11 million) , Ateshgah Sigorta (12.44 million), Qala Hayat (10.21 million), Ipek Yolu Sigorta (8.69 million), AXA MBASK (7.9 million) and Standard Insurance (7.6 million manat).

In compensations the leader is Pasha Insurance (due to corporate contracts for VHI - 11.07 million), Azerbaycan Senaye Sigorta (6,26 million), Ateshgah Sigorta (5.57 million), Azersigorta (5.39 million), AzSigorta (3.77 million), AXA MBASK (3.74 million), Standard Insurance (2.7 million), A-Group (2.64 million), International Insurance Company (2.47 million) and Ateshgah Heyat (1.9 million). -17D-

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