Payout ratio Bashak -Inam Insurance an example for the insurance market of Azerbaijan

Azerbaijani-Turkish insurance company Bashak-Inam Insurance in January- September this year, has become a model for the payout ratio - 41.38 % of the premiums . However, as always, the most collected premiums on three positions.

If before they were "side by side," in the current scenario there is a clear leader - Car Hull insurance (AZN 1,205,410). The other two positions are far behind - insurance of customers on accidents collected 908.34 thsd manat, and property insurance against fire and other risks - 522.67 thousand manats. These three segments are brought together 91.45 % of all premiums for voluntary positions.

In general , the collection of premiums for all types of insurance has reached 2 million 882.99 thousand manats, 550 thousand more than in the same period last year.

The remaining premium on personal and property insurance, except for the three leading positions, distributed as follows: voluntary health insurance (VHI) collected 212.94 thsd manat, cargo insurance - 3.1 thsd manat. On travel insurance collected was 14.72 thsd manat.

Insurance general liability collected 15.72 thsd manat, employer's liability - 2.28 thsd AZN, liability insurance of vehicle owners - 12.52 thsd manat.

Awards at the Bashak-Inam Insurance on compulsory insurance are in the absence of the structure in the privileged Bureau of Compulsory Insurance. The company appealed to the Ministry of Finance regarding the registration, but so far no answer.

The total payment is 1.2 million manat. Most of all payments made ??in cases of accidents and car problems (Hull) - 760.05 thsd manat.

In cases of fires and other such risks, customers paid 206.13 thsd manat. Of voluntary health insurance (VHI) paid 126.91 thsd manat, accidents - 107.89 thousand manats, and travel insurance - 1.5 million manat.

The insurance company has been operating in the insurance market since 1996. It operates on 32 types of insurance, of which 4 are compulsory.

Co-owner of the company is the French insurance and reinsurance company Groupama, which holds a 95 % stake in the co-founder of Bashak Inam - Turkish Bashak Sigorta.

The authorized capital is AZN 6 million.

The company has three subsidiaries: Karadag in the metropolitan area, Ganja and Beylagan. - 17D-


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