PASHA and Ateshgah IC Form Half of Local Market

The State Insurance Supervision Service under the Ministry of Finance released data on premiums and payments by local insurance companies. They collected 242 million 398 thousand manat and paid 92 million 137 thousand manat (the ratio by Eastern European standards is satisfactory - 38.01%).

It is worth noting that 6 of the 27 insurers are in fact bankrupt - they have a negative balance of premiums and claims. There is an imbalance between the capacity of large and small financial institutions. Four companies of the family PASHA and Ateshgah (two structures - life insurance and general insurance) together received 120 million 212 thousand manat (49.59% of the gross yield) with total payments of 36 million 179 thousand manat (39.27%). PASHA Sigorta, the leader in recent years, collected 39 million 469.5 thousand manat. In the second place is PASHA Hayat Sigorta- 32 million 782.4 thousand manat. On account of Ateshgah is 26 million 299 thousand. Ateshgah Hayat Sigorta has 21 million 660.9 thousand manat. The rest is inferior - Azersigorta - 19 million 485 thousand, Azsigorta - 16 million 616 thousand, and Mega Sigorta - 11 million 335 thousand.

By July 1, life insurance companies formed 27.18% of total premiums and received 65 million 873 thousand manat with payments of 33.25% (30 million 637 thousand).

The leader in payments is also PASHA Sigorta- 14 million 68 thousand manat. --17D-