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

Finance Materials 30 January 2023 20:00
Baku, Azerbaijan Trend News Agency
Azerbaijan names TOP-10 local insurance companies by payments in 2022

The total payments of 10 Azerbaijani leading insurance companies amounted to 410.6 million manat ($241.5 million) or 94.8 percent of total insurance payments 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 payments was headed by PASHA Life, which accounted for 49.71 percent of payments for the reporting period. The company's payments amounted to 215.3 million manat ($126.6 million) from January through December 2022.

PASHA Insurance, with total insurance payments of 66.9 million manat or $39.3 million (15.44 percent of all payments), ranked second, and Ateshgah Life, with payments of 29.9 million manat or $17.5 million (6.92 percent) - third.

Total payments of all insurance companies in Azerbaijan amounted to 433.2 million manat ($254.8 million) from January through December 2022.

Insurance company

Payments from January through December 2022

Percentage of payments from January through December 2022 (percent)

Rankings from January through December 2022

PASHA Life

215.3 million manat ($126.6 million)

49.71

1

PASHA Insurance

66.9 million manat ($39.3 million)

15.44

2

Ateshgah Life

29.9 million manat ($17.5 million)

6.92

3

Xalg Insurance

27.4 million manat ($16.1 million)

6.34

4

Azer Insurance

20 million manat ($11.7 million)

4.64

5

Atəşgah Insurance

15.8 million manat ($9.2 million)

3.65

6

A-Qroup Insurance

12.8 million manat ($7.5 million)

2.96

7

AzSığorta Insurance

9.4 million manat ($5.5 million)

2.18

8

Meqa Insurance

6.7 million manat ($3.9 million)

1.56

9

Qala Insurance

6 million manat ($3.5 million)

1.39

10

TOTAL

410.6 million manat ($241.5 million)

94.80

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