JSC Pasha Hayat Sigorta, specializing in life insurance, from January to April collected 14 million manat of premiums (+ 54.4% to 31 March of last year). Its awards provided 44% of the fees in the above segment.
As noted in the official information of the company with reference to the Director of Strategic Development Israil Garayev, the insurance payments were much more modest - 1.5 million manat with an impressive growth of 3.5 times.
The total assets of the company on April 1, 2015 were 106 million AZN (YTD + 15.4%), and investment portfolio - 86 million AZN (+ 6.8%).
The insurance reserves are estimated at 56.3 million manat (+ 23.4%) at the constant authorized capital of 40,250,000 manat.
JSC Pasha Hayat Sigorta started to work on February 14, 2011. Its sole shareholder is Pasha Holding. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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