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Azerbaijan names TOP-10 local insurance companies by insurance premiums in 2022

Finance Materials 29 January 2023 19:17
Baku, Azerbaijan Trend News Agency
Azerbaijan names TOP-10 local insurance companies by insurance premiums in 2022

The total premiums of 10 Azerbaijani leading insurance companies amounted to 881.8 million manat ($518.7 million) or 90.83 percent of total insurance premiums from January through December 2022, Trend reports via the Central Bank of Azerbaijan (CBA).

According to CBA, the list of top 10 companies in terms of premiums was headed by PASHA Life, which accounted for 42.57 percent of premiums for the reporting period. The company's premiums amounted to 413.2 million manat ($243 million) from January through December 2022.

PASHA Insurance, with total insurance premiums of 215.1 million manat or $126.5 million (22.16 percent of all premiums), ranked second, and Ateshgah Life, with insurance premiums of 53.4 million manat or $31.4 million (5.51 percent) - third.

Total premiums of all insurance companies in Azerbaijan amounted to 970.8 million manat ($571 million) from January through December 2022.

Insurance company

Premiums from January through December 2022

Percentage of premiums from January through December 2022 (percent)

Rankings from January through December 2022

PASHA Life

413.2 million manat ($243 million)

42.57

1

PASHA Insurance

215.1 million manat ($126.5 million)

22.16

2

Ateshgah Life

53.4 million manat ($31.4 million)

5.51

3

Xalq Insurance

42.2 million manat ($24.8 million)

4.35

4

Qala Insurance

40.3 million manat ($23.7 million)

4.16

5

Ateshgah Insurance

29.7 million manat ($17.4 million)

3.07

6

A-Group Insurance

24.6 million manat ($14.4 million)

2.54

7

Qala Life

21.2 million manat ($12.47 million)

2.19

8

Mega Insurance

21.1 million manat ($12.41 million)

2.18

9

Silk Way Insurance

20.5 million manat ($12.06 million)

2.11

10

TOTAL

881.8 million manat ($518.7 million)

90.83

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