More than 60 % of premiums collected by the seven leading insurers

If by August there were six leading insurance companies, we can now speak of seven. They focused around two-thirds of premiums for niche market. On their account is 164.21 million AZN of the 265.71 million manat (61.8 %) collected by 28 contributors.

The leaders are these: Pasha Sigorta - 32.85 million, AzSigorta - 28.66 million, AzerSigorta - 27.14 mln, Ateshgah - 23.04 mln, Pasha Hayat Sigorta - 19.3 mln, Ateshgah Hayat Sigorta - 18.36 million, and Ipek Yolu Sigorta - 14.85 million manat. Recall that Ipek Yolu Sigorta seems to gradually return its former position since August.

Given the market average (5.86 million manat) premiums can be concluded that these seven went into the lead and is already out of reach for the other competitors. If you look closely at the composition of the top 7, you can see what's behind them - powerful bureaucracy, a clan or inter-governmental resource. In the future, it will be added to the former favorite of the market (when Heydar Babaev was Minister of Economic Development) - Standard Insurance. Already this year, the financial structure with the prefix Standard, has fallen under the patronage of the ruling family and has greatly revived activity.

According to one analyst regulator of the local financial market, there is a tendency to reduce the "center of gravity" of the bank attachment to the involvement of senior officials and their relatives. If the concentration of Finance is polarized at the same rate, by 2017 the market will remain with no more than 15 participants - not without reason, he believes.

Today there are 43 banks in the market , but only a part have approval for the establishment of insurance agencies and entry into the niche of compulsory (of 12 companies ) insurance, with low volume of payments and other financial costs.

Life insurance market in the local environment is not well developed. This segment is the least expensive business because there is access to all three companies. In the State Insurance Supervision Service there have been filed several complaints from strong players with a solid cap, but the papers with the package of proposals are on the back burner fifth year with no prospect of consideration.

In confirmation of what has been said look at the amount of payments. The leaders in this index are Pasha Sigorta - 17.54 million, Ateshgah - 9.56 mln, AzerSigorta - 8.35 million and AzSigorta - 5.78 million. As you can see, the two companies for life insurance are included in the first seven (Pasha Hayat Sigorta and Ateshgah Hayat Sigorta) do not have significant payouts. On account of the leader - Ateshgah Hayat Sigorta there is AZN 2,067,680 of compensation that is at least 4 times greater than that of its direct competitors, but much less than that of the leaders in payments. - 17D-