Compulsory insurance increases at Azerbaycan Senaye Sigorta

The insurance company Azerbaycan Senaye Sigorta in January and December last year attracted a total of 7,813,670 manats of premiums. This is around 1.2 million (14.4%) more than the record result in 2011 - then the level was reached in 6.69 million manat. Voluntary insurance in the past year premium eached 5.9 million manat, 75.6% of the total fees (in the previous year it was 91.8%).

Prize for the main types are distributed as follows: in the first place is cargo insurance - 2,333,390 manat, property insurance against fire and other risks for several years have seen an impressive level of collection of premiums - this time up to 1,776,750 manats.

It is followed by voluntary health insurance (VHI) - 783,480 manat, Hull car insurance - 309, 540 manat, insurance customers from accidents - 65 000 AZN.

Employer's liability insurance company brought 82,430 manat, liability insurance of vehicle owners - 76,690 manat, credit insurance - 42,800 manat, general liability - 45,320 manat.

Premiums of Azerbaycan Senaye Sigorta for compulsory insurance were 1.9 million manat - through participation in the Bureau of Compulsory Insurance they grew more than threefold.

Payment of that financial structure from the mark of 1.8 million manat fell to 1.63 mln. Voluntary insurance payments made up 1.61 million manat.

The founders of the company's original name CI Sigorta are Azprombank and Anadolu Investment Company with equal equity participation.

The company Azerbaycan Senaye Sigorta was registered in the Ministry of Finance December 17, 1996.

It has operated in the insurance market since 1997, carrying out work on 28 types of voluntary and 5 types of compulsory insurance. On March 12, 2007 it was renamed to Azerbaycan Senaye Sigorta.

The authorized capital is AZN 6 million in anticipation of new enlargement. -17D-