1. Azerbaijan Life Insurance market: trends and perspectives
Baku, Azerbaijan
July 02, 2015

2. Life Insurance in Azerbaijan
Market Share by GWP for the period

3. Life Insurance in Azerbaijan
Insurance Market of Azerbaijan in Absolute Terms
in mln AZN
YEARS
2011
2012
2013
2014
Non-Life Insurance
190,5
305,7
336,9
324,2
Life Insurance
22,5
36,8
68,8
105,0
Total Insurance
213
342,5
405,7
429,2

4. Insurance market in Azerbaijan
Market Share of life and none-life Insurance in Azerbaijan

5. Life Insurance in Azerbaijan
Life Insurance GWP’s by types
Years
2011
2012
2013
2014
Total Life Insurance
Voluntary life insurance
Compulsory life insurance
in AZN

6. Life Insurance in Azerbaijan
Compulsory Life Insurance GWP’s in AZN

7. Life Insurance in Azerbaijan
Life Insurance GWP’s

8. Life Insurance in Azerbaijan
Life Insurance Claims
Years
2011
2012
2013
2014
TOTAL LIFE INSURANCE
Voluntary life insurance
Compulsory life insurance
in AZN

9. Life Insurance in Azerbaijan
Compulsory Life Insurance Claims in AZN

10. Life Insurance in Azerbaijan
Life Insurance Claims

11. Trends of Life Insurance market
Life Insurance market has been increased twice during the 2014
the growth of incomes of population
the increasing interest of population to life insurance products
the growth of endowment product
controlling mechanisms from state organizations
bank assurance services has been increased

12. Trends of Life Insurance market
The endowment life insurance has an important increase
profitability of the product (44%-55%) is triple higher than bank deposits interest rate (10-12%)
has an advantage by tax low and by state social foundation rules
none existing of commercial pension funds and lack of investment funds

13. Trends of Life Insurance market
The bancassurance life insurance has an important increase
PASHA Life Insurance is leading on bank assurance business (75% of market share)
Banks are interested to allocate cash resources from Insurance companies like a bank deposits
Recent banking reforms and some changes on credit creation rules made bank assurance business more demanded

14. Trends of Life Insurance market
The bancassurance life insurance has an important increase
New attractive life insurance products, f.e. “borrowers life insurance”
Some chances to implement from world life insurance practice
the bank assurance value of market share is 10% as a segment at the moment.

15. Factors that may contribute to the development of life insurance
Development of new and more understandable voluntary insurance products
Strengthening of marketing activities by insurance companies
Strengthening of the population awareness and educating processes on insurance products

16. Factors that may contribute to the development of life insurance
The launch of various projects promoting insurance in media and etc.
The establishment of training centers for the insurance professionals preparation

17. Pasha Life Insurance About Company
“PASHA Life Insurance” OJSC carries out its activity on the basis of the official registration at the Ministry of Taxes of the Republic of Azerbaijan and the license dated issued by the Ministry of Finance of the Republic of Azerbaijan.

18. GenRe Germany and SCOR France
Pasha Life Insurance
About Company
PASHA Life Insurance has strong partnership mainly with the leading high-rated international reinsurance companies:
GenRe Germany and SCOR France

19. Pasha Life Insurance Main financial figures for end of 2014 (in AZN)
Total assets - 91,975,000
Share capital - 40,0250,000
Net profit - 5,326,000

20. Pasha Life Insurance "PASHA Life Insurance" is a member of:
Azerbaijan Insurers Association (ASA),
Azerbaijan Risk Professionals Association (ARPA),
Azerbaijani-Turkish Business Association (ATIB),
Confederation of Entrepreneurs of Azerbaijan (ASK)
Azerbaijani-American Chamber of Commerce (AMCHAM).
The company possesses "TÜV Thüringen" ISO 9001: international quality certificate.

21. Awards
As a result of 2013 and 2014, "PASHA Life Insurance" company was awarded with award “The most profitable life insurance company of Azerbaijan” by Romania's prestigious "XPRIMM Insurance Report" international insurance magazine
In 2015 “PASHA Life Insurance” has been honoured with the award “National Brand of Azerbaijan” by the prestigious British “Luxury Lifestyle” company

22. Public activity and social responsibility
The company is deeply aware of its social responsibility, always takes into account the public interest and conducts activities of social importance.
In 2014, "PASHA Life Insurance" has been honoured with the award "National Heritage" by the Ministry of Culture and Tourism of the Republic of Azerbaijan

23. Public activity and social responsibility
One of the company's social responsibility projects is the training for students of different universities conducted since July, 2013
Since start of the project by now 1150 students participated in 56 training sessions held on mainly insurance related and other topics 

24. Thanks!!!
We are looking forward to see you in the Special Evening party tomorrow - 03 July, 2015 (Dinner & Insurers’ European Games) offered by PASHA Life Insurance” OJSC takes place at Baku Entertainment Center (Fazail Bayramov street, 1130/33). Dress code – casual/sport wear.