The Insurance Company Baki Sigorta in January-November this year collected premiums worth AZN 5,323,580, which is more than three times higher than the same period last year, when it collected 4,244,260 manats.
According to statistics from the state insurance supervision service, for the first 11 months of 2010 the company collected premiums worth 3.986 million manat that is positive dynamics and growth opportunities.
It is believed that, with good capitalization and promoters linked to Bank Respublika (90% stake), the company could increase premiums on CTP, if it was in the Bureau of Compulsory Insurance.
The company holds "road" principles, resulting in the restored traditional "champion" (hull car insurance) to the usual first line - 2,605,450 manats.
The second place tolls on voluntary health insurance (VHI) - 1,123,870 manats (these two positions provided 70.1% of all voluntary income). Increase compared to the previous year is provided by the relatively new position of insurance against employee fraud - 209,540 manat.
For other types of insurance the situation is as follows. Property insurance against fire and other risks collected 241,950 manat, accident insurance - 429,980 manat, general liability insurance - 344,100 manat, liability insurance for car owners - 298,160 manat, and cargo insurance - 70,530 manat.
Premiums for compulsory insurance were not collected due to lack of a license from the relevant offices.
During the reported period, Baki Sigorta customers paid 2.41 million manat, which is almost three times more than in the same period last year (874,300). Over a million manat fell to hull auto insurance. In the second place there was insurance VHI for which the payments totaled 695,000 manats.
The insurance company has been operating since the beginning of February 1994.
In 2004, it was granted a license for a period of 5 years. In 2009 the company received a license on a perpetual activity.
The authorized share capital is AZN 6,523,840.
The majority shareholder (90%) and the founder of Baki Sigorta is Bank Respublika. In addition, there are two individuals (10%).
The company operates through 24 voluntary and 4 compulsory insurance types. - 17D-
Economics
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