More than Two-thirds of Insurance Premiums in Companies of Relatives of President of Azerbaijan
BAKU / 19.09.16 / TURAN: The insurance company Pasha Sigorta, close to the family of the President of Azerbaijan, has collected more than a fifth (21%) of all premiums in this segment of the economy.
By September 1, it collected 74.7 million AZN at the aggregate index of 356,180,000 AZN. Together with the life insurance company Pasha Hayat Sigorta (AZN 56 million), the share of the insurance business of the cousins of the spouse of the head of state reached 36.7% of the insurance market - the figures have been presented by the Financial Markets Supervision House. Experts say such a financial concentration was not observed before.
Besides them, the top five included the state-owned commercial company Azersigorta (35.5 million AZN), Ateshgah (27.5 million AZN) and Qala Hayat (24.7 million AZN).
The payment segment of proven insurance cases is also led by Pasha Sigorta (28.4 million - 20.8% of the total), followed by Ateshgah Hayat Sigorta (19.9 million manats), Pasha Hayat Sigorta (14.5 million manats), Qala Hayat Sigorta (14 million manats) and Ateshgah (10 million AZN). Total 136,770,000 manats was paid.
The market has 25 insurers operating. --17D-
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