AXA MBASK insurance increases within the CTP

BAKU/15.01.14/TURAN : Insurance company AXA MBASK for last year collected a total of 17 million 305.47 thousand manats, which strengthened the position compared to last year results - last year it collected 17 million 697.58 thousand manats of premiums.

Most (contrary to tradition) premiums were collected on mandatory liability of vehicle owners to third parties - CTP. Membership in the Bureau of Compulsory Insurance allowed to collect on this type 7 million 709.28 thousand manats. Hull car insurance collected 4 million 202.32 thousand manats (for these two positions there were accumulated two-thirds - 68.8 % of total premiums).

In general, voluntary insurance dominated - 9 million 288.31 thousand manats. Premiums for the basic kinds , except Hull , distributed as follows: property insurance against fire and other risks collected 1 million 958.01 thousand manats, voluntary health insurance (VHI ) - 1 million 601.52 thousand manats ( double increase) , insurance of customers from accidents - 354.29 thousand AZN and travel insurance - 103.4 thousand manats.

Cargo insurance collected 474.83 thousand manats, general liability insurance - 371.23 thousand manats, liability insurance of vehicle owners - 83.62 thousand manats, and employer's liability insurance collected 46.93 thousand AZN.

AXA MBASK premium for compulsory insurance amounted to AZN 8 million 17.16 thousand, of which the main part fell on the CTP , mandatory insurance of property collected 291.07 thousand, liability insurance of homeowners - 16.81 thousand, while for passengers there was not collected anything - last year it was 2.86 thousand AZN .

Most payments were made ??(total number 8.23 million manat, which is 2.4 million more than last year) in the case of road problems - 3.71 million manat. CTP (second position after Hull) paid 2.36 million manat, voluntary medical insurance - 1.29 million manat, on the facts of financial fraud - 518.02 thousand manats, and so on (see table). Payments for all positions increased.

Open Joint Stock Company AXA MBASK has been operating in the insurance market of Azerbaijan since 1992 and provides services on 25 voluntary and 4 types of compulsory insurance.

Recall that in October 2010 the insurance company changed its main shareholder. Controlling stake (51%) was acquired by AXA Group (France) through its subsidiary AXA Sequros Generales, SA, De Sequros Y Reasequros (Spain).

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

Paid-in share capital of the company now stands at 8.74 million manat.

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