STATISTICS: AZERBAIJAN: The two PASHA units, ATESHGAH subsidiaries and the State insurer AZERSIGORTA dominate the market

At the end of December 2016, Azerbaijan's 25 insurance companies reported aggregate gross written premiums of AZN 486 million (EUR 260 million), which is 9.7% more than in 2015. Claims paid by the local insurers totaled AZN 237 million (EUR 127 million), up by 32% y-o-y.

Of total GWP, the local insurance market consisted of about two thirds of voluntary insurance subclasses, and about one third of compulsory policies.

The Top 5 Azerbaijan insurers in GWP terms generated about 61% of total, and were formed by the following insurers: PASHA Sigorta (about 20,5% market share), PASHA Life Insurance (16%), AzerSigorta (8.5%), and the other two ATESHGAH subsidiaries: ATESHGAH Sigorta (8.2%) and ATESHGAH Hayat (7.7%).

Access www.xprimm.com and download the FY2016 Azerbaijani insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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