Results of British Insurer Slightly Better than Its Predecessor Overseas

Insurance company Chartis Azerbaijan (formerly CK AIG Caspian) in the first three quarters of this year collected 1 million 334.2 thousand manat of premiums, which is 4.2% more than last year. 

For the local market this was an inconspicuous result, however, in contrast to the "backed" organizations, the company did what it could. This year it lost VHI and travel insurance, as well as a package of compulsory insurance. However, it got the first prize for insurance fraud in business (AZN 2.26 thsd) and professional (164.9 thousand manats) responsibility. 

Collection of premiums, mainly on account of property insurance against fire, collected 743 thousand manats, which is almost 300 thousand AZN better that the performance last year.

The entire indexes are listed in the table below. 

Chartis Azerbaijan Insurance Company has been operating in Azerbaijan since 1999. Previously, it was registered as subsidiary of AIG (American International Group), providing services of general insurance (non-life insurance) in Azerbaijan. 

Now, instead of the organization with 49 per cent of the American capital a structure with 100% foreign (British) capital registered on 15 October 2010 provides services for 10 types of insurance. 

The authorized capital is AZN 5 million. 

The leading organization CHARTIS has 90 years of experience in insurance. Today companies of CHARTIS serve 45 million clients in over 160 countries and jurisdictions. Excess of equity companies in the group, over the regulatory minimum required is 38 billion dollars. - 17D-