Foreign insurer has not collected a penny in January

BAKU/13.02.14/TURAN : The insurance company Chartis Azerbaijan ( former AIG Caspian) is the only structure that did not gather any manat in January.

Turan repeatedly wrote that it consistently takes up key positions (premiums for property insurance against fire , voluntary medical insurance and voluntary responsibility of car owners ), which affects the total - in 2009 it collected 1.65 million, in 2011 - 1.6 million and last year - 927.61 thousand manats . In addition, most financial institutions have no compulsory insurance products now.

For the local market it is an unremarkable result, however, in contrast to the informally backed organizations , this team plays as it can. In order to survive the company decided to restructure the portfolio not only with premiums but also with the scheme of control . Remained unanswered two questions - if this means Chartis leaving the local market and if there will be any change in the composition of the founders. The leadership promised to answer the questions in March (closer to Novruz) .

Chartis Azerbaijan Insurance Company has been operating in Azerbaijan since 1999.

Previously, it was incorporated as a subsidiary of AIG (American International Group), providing services of general insurance (other than life insurance) in Azerbaijan.

Now, instead of an organization with 49 percent of the British/American capital, this structure has 100 % foreign (English) capital (registered on 15 October 2010). It nominally provides services for 10 types of insurance.

The authorized capital of the company amounts to 6 million 786,5 thousand manats.

The leading organization Chartis has 90 years of experience in insurance. Today the company Chartis serves 45 million customers in 160 countries. - 17D-