Qala Hayat to raise 11 million manat of premiums next year

BAKU/27.12.13/Turan : Life Insurance Company Qala Hayat intends to raise 11 million manat premiums next year.

According to the chairman Asker Alekperov , it is an achievable goal - so in 2012 the company collected 6.6 million and this year - almost 10 million despite the forecast of 7.5 million manat. For this segment it is a lot, although the company lags behind the competitors (Pasha Hayat Sigorta and Ateshgah Hayat Sigorta) linked to other financial entities, including general insurance structure and having a stable customer base.

According to him , currently the company's portfolio is distributed almost equally between compulsory and voluntary insurance , and growth by encouraging voluntary types : customers get used to the concept of life insurance.

In the near future the share capital increase will be above 5 million manat required by the Ministry of Finance . This will be possible due to the profit . Payments by the company are mainly on industrial accidents.

Qala Hayat Sigorta (previously Qala Sigorta) got its license for insurance activity in July 2008 .

The share capital is 5 million 5 thousand manats. The shareholders are an individual Nizami Makhmudov and Reinsurance Company AzRe Tekrarsigorta.

As of October 1, the premiums totaled 7 million 662.53 thousand manats and the payments were 189.18 thousand manats. - 17D-