Doubling of the group Ateshgah

Insurance Group Ateshgah (this includes the insurance company Ateshgah and the life insurance company Ateshgah Hayat Sigorta) for last year collected premiums totaling 53.5 million manat, which is almost twice (by 91% or 25.5 million manat) compared to 2011.

Payments of last year amounted to 13.2 million manat, increasing by more than half (106% or 6.8 million manat).

As the press service of the group said, Ateshgah in 2012 collected premiums totaling $ 37.8 million manat, which is two times or +19.3 million manat compared to 2011 year. The market share was up to 11.04% last year.

According to official data of the State Insurance Supervision Service under the Ministry of Finance of Azerbaijan by the end of 2012, in the ranking of insurers Ateshgah rose from the 4th position (in 2011) to the third one.

As for Ateshgah Hayat, for the whole 2012 the company collected premiums worth 15.8 million manat. This is more of a 65%, or 6.2 million manat compared to 2011. The market share was up to 4.60% in 2012.

The insurance group Ateshgah provides clients with services for 32 types of insurance and includes the insurance company Ateshgah and the insurance company Ateshgah Hayat Sigorta together with a medical clinic Intermed.

The group of companies was established in late 1996 and since January 1997 has been providing services to clients for more than 20 types of insurance.

The total authorized capital of the insurance companies is 7.8 million manat.

The shareholders are ISRHolding Limited and the company RAN-Eksim. - 17D-