Four of the 25 insurance companies operating in Azerbaijan completed 2015 with a loss. We are talking about Alfa Sigorta, Basak Inam Sigorta, Gunay Sigorta, and Gala Sigorta. One of these companies, Basak Inam, also completed 2014 with losses. In 2014, AXA MBASK, Azerbaijan Sanaye Sigorta, Baki Sigorta, Buta Sigorta and Amrah Sigorta also had losses, but they finished 2015 with a profit.
|
№
|
Insurers
|
Net profit or loss in 2015 in AZN |
Net profit or loss in 2014 in AZN |
|
1 |
A-Qroup ASC |
7 889 256.57 |
1 850 052.51 |
|
2 |
AXA MBASK ASC |
242 091.96 |
- 2 934 291.62 |
|
3 |
Alfa Sığorta ASC |
- 455 466.10 |
105 995.91 |
|
4 |
AtaSığorta ASC |
1 238 226.84 |
1 143 756.49 |
|
5 |
Atəşgah Həyat ASC |
2 280 964.14 |
1 424 168.86 |
|
6 |
Atəşgah Sığorta ASC |
627 422.64 |
250 470.48 |
|
7 |
AzSığorta ASC |
17 369 791.94 |
14 844 672.30 |
|
8 |
Azərsığorta DSKŞ |
3 377 134.71 |
2 748 169.04 |
|
9 |
Azərbaycan Sənaye Sığorta ASC |
5 657 404.18 |
-1 539 752.00 |
|
10 |
Azərqarant ASC |
318 145.26 |
576 180.22 |
|
11 |
Bakı Sığorta ASC |
1 090 753.26 |
- 1 635 422.52 |
|
12 |
Başak İnam ASC |
- 765 856.57 |
- 212 268.12 |
|
13 |
Beynəlxalq Sığorta Şirkəti ASC |
1 118 700.00 |
458 550.36 |
|
14 |
Buta Sığorta ASC |
2 739 776.87 |
- 894 250.74 |
|
15 |
Günay Sığorta ASC |
- 49 832.86 |
40 103.50 |
|
16 |
Mega Sığorta ASC |
9 820 556.02 |
2 818 135.10 |
|
17 |
Paşa Həyat ASC |
15 406 479.03 |
4 284 475.50 |
|
18 |
Paşa Sığorta ASC |
17 429 423.81 |
8 735 114.11 |
|
19 |
Qala Həyat ASC |
2 185 325.46 |
2 551 814.11 |
|
20 |
Rəvan Sığorta ASC |
416 741.28 |
619 083.98 |
|
21 |
Standard Insurance ASC |
639 775.94 |
467 617.59 |
|
22 |
Xalq Sığorta ASC |
6 837 249.53 |
2 204 179.30 |
|
23 |
Qala Sığorta ASC |
- 179 408.82 |
15 573.00 |
|
24 |
İpək Yolu Sığorta ASC |
5 029 444.99 |
4 052 846.77 |
|
25 |
Amrah Sığorta ASC |
557 878.02 |
- 144 817.14 |
Sixteen insurance companies completed 2014 and 2015 with a profit, but three of them were able to increase profits. These are Gala Hayat, Ravan Sigorta, and Azergarant. Their profit decreased by 14.7%, 32.7% and 44.8%, respectively.
Among the other 13 insurance companies that increased their profits, the highest dynamics of 4.3 times were shown by the insurance company A-Group. Pasha Hayat increased its profit by 3.6 times, and Mega Sigorta - by 3.5 times. The lowest dynamics of profits were at Ata Insurance - 8.3%, Azsygorta - 17%, and Azersygorta - 22.9%.
|
№
|
Insurer
|
Net profit or loss in 2015 in AZN |
Comparative dynamics with 2014 |
|
1 |
A-Qroup ASC |
7 889 256.57 |
4.3 times |
|
2 |
Paşa Həyat ASC |
15 406 479.03 |
3.6 times |
|
3 |
Mega Sığorta ASC |
9 820 556.02 |
3.5 times |
|
4 |
Xalq Sığorta ASC |
6 837 249.53 |
3.1 times |
|
5 |
Atəşgah Sığorta ASC |
627 422.64 |
2.5 times |
|
6 |
Beynəlxalq Sığorta Şirkəti ASC |
1 118 700.00 |
2.4 times |
|
7 |
Paşa Sığorta ASC |
17 429 423.81 |
2.0 times |
|
8 |
Atəşgah Həyat ASC |
2 280 964.14 |
60.2% |
|
9 |
Standard Insurance ASC |
639 775.94 |
36.8% |
|
10 |
İpək Yolu Sığorta ASC |
5 029 444.99 |
24.1% |
|
11 |
Azərsığorta DSKŞ |
3 377 134.71 |
22.9% |
|
12 |
AzSığorta ASC |
17 369 791.94 |
17.0% |
|
13 |
AtaSığorta ASC |
1 238 226.84 |
8.3% |
|
14 |
Qala Həyat ASC |
2 185 325.46 |
-14.4% |
|
15 |
Rəvan Sığorta ASC |
416 741.28 |
-32.7% |
|
16 |
Azərqarant ASC |
318 145.26 |
-44.8% |
|
17 |
AXA MBASK ASC |
242 091.96 |
- |
|
18 |
Alfa Sığorta ASC |
- 455 466.10 |
- |
|
19 |
Azərbaycan Sənaye Sığorta ASC |
5 657 404.18 |
- |
|
20 |
Bakı Sığorta ASC |
1 090 753.26 |
- |
|
21 |
Başak İnam ASC |
- 765 856.57 |
- |
|
22 |
Buta Sığorta ASC |
2 739 776.87 |
- |
|
23 |
Günay Sığorta ASC |
- 49 832.86 |
- |
|
24 |
Qala Sığorta ASC |
- 179 408.82 |
- |
|
25 |
Amrah Sığorta ASC |
557 878.02 |
- |
The highest profit in 2015 among the 21 insurance companies, which completed the year with a profit, was at Pasha Sigorta - more than 17.4 million manat. Approximately the same income was at Azsygorta, while Pasha Hayat’s profit amounted to 15.4 million manat.
The smallest profit was at AXA MBASK (242,000 manat), Azergarant (318,000 manat) and Ravan Sigorta (417,000 manat).
|
№
|
Insurers |
Net profit or loss in 2015 in AZN |
|
1 |
Paşa Sığorta ASC |
17 429 423.81 |
|
2 |
AzSığorta ASC |
17 369 791.94 |
|
3 |
Paşa Həyat ASC |
15 406 479.03 |
|
4 |
Mega Sığorta ASC |
9 820 556.02 |
|
5 |
A-Qroup ASC |
7 889 256.57 |
|
6 |
Xalq Sığorta ASC |
6 837 249.53 |
|
7 |
Azərbaycan Sənaye Sığorta ASC |
5 657 404.18 |
|
8 |
İpək Yolu Sığorta ASC |
5 029 444.99 |
|
9 |
Azərsığorta DSKŞ |
3 377 134.71 |
|
10 |
Buta Sığorta ASC |
2 739 776.87 |
|
11 |
Atəşgah Həyat ASC |
2 280 964.14 |
|
12 |
Qala Həyat ASC |
2 185 325.46 |
|
13 |
AtaSığorta ASC |
1 238 226.84 |
|
14 |
Beynəlxalq Sığorta Şirkəti ASC |
1 118 700.00 |
|
15 |
Bakı Sığorta ASC |
1 090 753.26 |
|
16 |
Standard Insurance ASC |
639 775.94 |
|
17 |
Atəşgah Sığorta ASC |
627 422.64 |
|
18 |
Amrah Sığorta ASC |
557 878.02 |
|
19 |
Rəvan Sığorta ASC |
416 741.28 |
|
20 |
Azərqarant ASC |
318 145.26 |
|
21 |
AXA MBASK ASC |
242 091.96 |
|
22 |
Günay Sığorta ASC |
- 49 832.86 |
|
23 |
Qala Sığorta ASC |
- 179 408.82 |
|
24 |
Alfa Sığorta ASC |
- 455 466.10 |
|
25 |
Başak İnam ASC |
- 765 856.57 |
Azerbaijan has only one company, AzRe, which is engaged in re-insurance. The company completed 2015 with a profit of about 14.2 million manat. This is by 18.5% more than the profit in 2014.
|
1 |
AzRe Təkrarsığorta ASC |
14 171 279.76 |
11 955 005.85 |
Economics
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
-
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
Leave a review