AXA MBASK diversified portfolio in favor of social insurance

Insurance company AXA MBASK collected in January-September this year, 12 million 204.14 thousand manats premiums, which is about a million manat less than this segment last year. 

Through participation in the Bureau of compulsory insurance is the difference between this segment and the types of voluntary reduced - if two years ago to the beginning of October, it was collected 98.97% of voluntary premiums in the past year, their share was 60.25%, and now it does little more than half - 54.7% or 6 million 670.8 thousand manats. 

The positive trend observed in the company since the beginning of November 2010, due to structural and other organizational changes. Traditionally, most of all collected were premiums on Hull voluntary automobile insurance - AZN 2,818,350, but diversification is evident - the earlier the share of this position in the voluntary kinds of over 60%, but now - 42.3%, which is too much, but is not one-sided. 

Premiums for the basic types, excluding the leading position, allocated as follows: property insurance against fire and other risks - AZN 1,415,280 (+ 300 thousand per year), voluntary health insurance (VHI) - 1,257,510 AZN (almost twofold increase) and insurance customers from accidents - 310.44 thousand manats. 

Two years, the financial structure - one of the leaders in the field of insurance for foreign travel - at this position collected 81.27 thsd manat. Proceeds from cargo insurance equals 298.37 thousand, air transport - 39.08 thsd manat. 

All types of civil liability replenished treasury at 421.99 thousand manats, most collected in the framework of general liability - 313.22 thousand, the civil liability of vehicle owners - 60.67 thsd and Employers Liability - 41.88 thsd manat. 

AXA MBASK award for compulsory insurance totaled 5 million 533.34 thousand manats. The main part - 5 million 292.37 thousand manats fell on compulsory insurance of liability of owners of motor vehicles (the so-called new CTP). Compulsory insurance of real estate has brought 227.85 thousand manats, compulsory insurance of liability of its owners - 13.12 thsd manat. 

The total of payments for insurance claims amounted to 6 million 56.95 million manat, which is much more than in the first three quarters of last year. Most payments are also made in cases of motor problems - 2 million 764.31 thousand manats. VHI paid 953.54 thsd manat, fire - 132.81 thsd AZN, accident - 62.86 thsd manat, insurance for foreign travel - 9.29 thsd manat, cargo insurance - 4.68 thsd manats. Special article - insurance against employee fraud paid 518.02 thsd with bonuses 109.82 thousand manats. In the mandatory payments is also leading a new CTP - 157.44 thousand manats. 

Open Joint Stock Company AXA MBASK operating in the insurance market since 1992 and provides services in 25 voluntary and 4 compulsory insurance items. 

Recall that in October 2010, the insurance company changed its main shareholder. Controlling stake (83.92%) was acquired by the AXA Group (France) through its subsidiary AXA Sequros Generales, SA, De Sequros Y Reasequros (Spain). 

December 7, 2010 License MBASK was updated on AXA MBASK in connection with the change of the company name. 

Paid-up share capital of the company now stands at 8 million 732.5 thousand manats. 

It has a national network of 5 branches and representative offices. - 17D-