Zurich Insurance also abandons Russia

Swiss insurance group Zurich Insurance is leaving Russia.

Insurance company Qala Sigorta sold

100% shareholder AzRe Təkrarsığorta has sold Qala Sığorta

Ex-advisor to minister starts working at Ateshgah Sigorta

Some changes in the Board of Directors of Ateshgah Sigorta have been reported

A big staff reduction in Bakı Sigorta – 86 people dismissed

Bakı Sigorta Company has drastically reduced the number of employees.

Insurance market net profit has sharply decreased

Amount of tax paid by insurers last year announced

State Insurance Company renews logo and brandbook

As part of the rebranding of the State Insurance Company, the company's logo and brandbook have been fully updated.

Compensations to be paid in connection with the fire in Sumgait

In connection with the fire in Azersun Industrial Park of Azersun Holding LLC, an insurance compensation will be paid in Gaji Zeynalabdin Tagiyev settlement in Sumgait.

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