Outsider insurance market for 8 months collected just over $ 100,000

The insurance company Royal Sigorta is a notorious outsider of the local market - for 8 months it collected 80,995 manat in 4,090 payments.

According to the chairman of the financial structure Nusrat Babaev , is the result of closure of local opportunities . "The company has received a license and a half years ago with a view to membership in the Bureau of compulsory insurance. The Ministry of Finance has made demands that are not compatible with our capabilities capitalization. Almost all successful insurers are tied to the banks and the trader solid firms in Royal Sigorta is no such possibility," he says," forgetting " about the founders of the links with the same name recently bankrupt bank.

However, among the outsiders and there is a company founded by the well-known banking and other credit structure - so , Gunay Sigorta collected before September 1, 253.14 thousand manats , Amrah Sigorta - 515,15 thousand manats. Among those whose premiums in January -August fell short of 1 million - Era Trans (528,36 thousand ), Azerqarant (540,95 thousand) and Chartis Azerbaijan (684,54 thousand manat) .

Insurance company "Royal Sigorta" has received a license to operate in December 2011. The company applied for registration in the office of compulsory insurance provided for by the law, which came into force on 16 December last year.

The size of the initial capital is 5.5 million manat.

Its founders include Ilgar Aliyev ( cousin of the president of the country) , Famil Teymurov, Vugar Shahbazli , Shahbaz Shakhbazov and Fuad Jam ( son of the chairman of the supervisory board of Royal Bank Ali Jam) . - 17D-