Insurance Market Growing in Elite Companies

There has been published information about the premiums and payments in the domestic market in January-July.

Azerbaijan's insurance market in the reporting period brought 283 million 149.49 thousand manats, which is 31.4 million manats more than in the last year. On all claims there were 104,790,000 manats of payments.

As expected, the insurance company Pasha Sigorta, tied to the ruling family, for seven months did not miss the leadership among local insurance companies collected 43 million 559.13 thousand manats or 15.38% of insurers' premiums for the period. Then there was the life insurance company Pasha Hayat Sigorta (35 mln. 939.16 thous.). When solving organizational issues its representative as if casually mentioned that they will be one of the leaders not only in the segment and overtake many of the traditional favorites. The second place in the market for it is a phenomenal rate.

Ateshgah, as always, was in third place, and it justifies this view with the result of 29 million 882.05 thousand manats.

State Insurance Company Azersigorta this year will not be able to become the winner of the race, although the stock has a specific arsenal of compulsory insurance, the head of state transferred only to her. During the reporting period, the company concluded a contract on which there were drawn premiums worth 24 million 559.15 thousand manats. In fifth place there is Ateshgah Hayat with 24 million 385.36 thousand manats.

On the sixth place it is strange to observers the company AzSigorta attached to the Minister for Emergency Situations - 19 million 828.75 ths. manats. Following is Ipek Yolu Sigorta (15 million 345.16 thous.). The accrued premiums were expected, but the standings – no. It says that the structure is fixated on air transport insurance.

On the eighth place is the team of life insurance Qala Hayat, which had never before accumulated so much money to August 1 - 13 million 368.75 ths. manats. On the penultimate place in the top ten is Mega Sigorta, three years ago the former rookie, but now, thanks to membership in the Bureau of Compulsory Insurance, it brought 12 million 403.04 ths. manats.

And closes the elite table Standard Insurance (12 million 14.04 ths.), which is a setback. According to experts, it is not a result of the unexpected, despite the temporary setbacks and adaptation period lapping staff to the new realities, but from it is not worth it because of the political situation expect the third, and possibly higher ground.

* All results are given with reference to the State Insurance Supervision Service Ministry of Finance of Azerbaijan. --17D-