Seven Insurers Finish Last Year with Loss
According to the Association of Insurers of Azerbaijan, last year insurers 7 (of 27) finished with a loss. And one of them (Buta Sigorta) was twice a loser. It was in the red in 2013 and in 2014.
In addition to it, the list of nominal outsiders included: Amrah Sigorta, Bashak Inam, Era Trans, Azerbaycan Senaye Sigorta, Baki Sigorta and AXA MBASK. The latter will invest in the expansion of the business, which has provoked a negative balance sheet. Special case is Chartis Azerbaycan, which, though earned income, actually dropped out of the market processes. --17D-
Table of Profits of Insurers, DESC
№ |
Companies (JSC)
|
Profit/loss in 2014 (AZN)
| Profit/loss in 2013 (AZN) |
1 | Az Sigorta | 14 844 672,30 | 15 933 518,16 |
2 | Pasha Sigorta | 8 735 114,11 | 6 607 023,84 |
3 | Pasha Hayat | 4 284 475,50 | 8 070 899,87 |
4 | Ipek Yolu Sigorta | 4 052 846,77 | 2 643 611,65 |
5 | AzerSigorta | 3 435 211,63 | 2 055 506,83 |
6 | Mega Sigorta | 2 818 135,10 | 1 307 216,10 |
7 | Khalg Sigorta | 2 204 179,30 | 1 905 052,70 |
8 | Qala Hayat | 2 002 055,71 | 794 254,94 |
9 | A-Group | 1 850 052,51 | 1 934 018,08 |
10 | Ateshgah Hayat | 1 424 168,86 | 1 123 144,34 |
11 | Ata Sigorta | 1 143 756,49 | 1 272 702,42 |
12 | Rеvan Sigorta | 619 083,98 | 822 244,93 |
13 | Azеrqarant | 576 180,22 | 504 868,50 |
14 | Standard Insurance | 467 617,59 | 1 043 482,24 |
15 | MSK | 458 550,36 | 15 416,95 |
16 | Ateshgah Sigorta | 250 470,48 | 182 388,82 |
17 | Qarant Sigorta | 233 627,78 | 982 516,81 |
18 | Alfa Sigorta | 105 995,91 | 22 162,72 |
19 | Gunay Sigorta | 40 103,50 | 17 065,92 |
20 | Chartis Azerbaycan | 15 573,00 | -154 858,00 |
21 | Amrah Sigorta | - 144 817,14 | 377 334,80 |
22 | Bashak Inam | - 212 268,12 | 162 269,04 |
23 | Era Trans | -795 608,41 | 347 076,94 |
24 | Buta Sigorta | - 894 250,74 | -1 158 916,27 |
25 | Azеrbaycan Sеnaye Sigorta | -1 539 752,00 | 2 482 293,28 |
26 | Baki Sigorta | -1 635 421,52 | 309 346,29 |
27 | AXA MBASK | -2 934 291,62 | 29 452,34 |
-
- Economics
- 21 April 2015 16:44
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review