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Azerbaijan: Top 10 insurers continue to dominate market in 2013

December 16, 2013 - 6:00am

The Azerbaijani insurance market continues to be concentrated in 2013, with the top insurers having a major share of the market, Forinsurer reported.

Figures show that during the January to November 2013 period, the top 10 insurers had a 75.09% share of the overall market.

Average premiums per company were 13.2 million Azerbaijani manats ($16.8 million) during the period, up from AZN 12.2 million ($15.6 million) at the end of 2012, while payments averaged AZN 3.9 million ($5 million), up from AZN 3.4 million ($4.3 million) in 2012.

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