List of insurers that gathered the least premiums over Jan-Mar

AZN 210.7 million (or 81.55%) of the total amount of premiums collected in Azerbaijan (AZN 258.425 million) over Jan-Mar 2022 accounted for five insurance companies

Insurers that compensated least of all for past 3 months

Out of AZN 61.228 million of insurance compensations paid in Azerbaijan for Jan-Mar 2022, AZN 46.428 million or 75.8% accounted for five insurers.

7 insurers’ premiums lowered

The premiums of seven out of 20 insurance companies operating in Azerbaijan decreased for the 1st quarter of 2022

Carriers served 345.1 million passengers

Over Jan-Mar, carriers served 345.1 million passengers.

Insurance premiums grew by 3.8% for Jan-Mar

Insurers with increased liabilities

As of 1 January 2022, the liabilities of nine out of 20 insurance companies operating in Azerbaijan were less than in annual comparison.

Liabilities of 5 insurers in Azerbaijan exceed AZN 30 million

The liabilities of five out of 20 insurance companies operating in Azerbaijan exceeded AZN 30 million as of 1 January 2022.

A new insurance broker created

A new insurance broker has been created in Baku.

Assets of 9 insurers decreased

Nine out of the 20 insurance companies operating in Azerbaijan had fewer assets as of 1 January 2022 in annual comparison.

Insurers with assets of over AZN 50 million

Assets of five out of the 20 insurance companies operating in Azerbaijan exceeded AZN 50 million as of 1 January 2022.

Two insurers did not pay taxes in 2021

In 2021, insurance companies paid income tax in the amount of AZN 19.49 million (17.5% less than in 2020).

Four insurers faced financial losses in 2021

The total revenues of insurance companies operating in Azerbaijan in 2021 have been published.

Receipts on contributions to compulsory state social insurance exceed AZN 1 bn

Azsigorta has a tax debt of over AZN 54,000

Recommendation: Houses without documents can be insured

The insurance system is widely used to compensate for damage caused by damage, destruction or any form of loss of immovable property as a result of fire or other events.

9 district branches of Azersigorta liquidated

State insurance commercial company Azersigorta has reported about the liquidation of its nine district branches.

List of insurers with lowest premiums for Jan-Feb

Baki Sigorta finished 2021 with loss

Insurance company Baki Sigorta completed 2021 with net loss of AZN 1.712 million (net profit of AZN 155,211 in 2020)

PASHA Life Insurance observed decline of net profit in 2021

Pasha Life Insurance has published the financial indicators for 2021.

Compensations paid per every 100 manats of compulsory insurance premium unveiled

The compulsory insurance premiums decreased by 17.6% year-on-year to AZN 35.17 million for the past 2 months.

Data on voluntary insurance premiums published

The Central Bank has released some indicators of the insurance sector for Jan-Feb 2022.