The Company Buta Sigorta Diversifies Portfolio Premiums

Insurance company "Buta Sigorta" since the re-branding (to 31 July was the company with mixed capital and was called Thames Insurance Company) has signed 630 contracts for $ 1 bn. For comparison - from April 1 to August 1, too, the new company "Royal Sigorta" gathered 50 thousand manats.

According to the chairman Abbas Babayev, the company has 600 individuals and 20 legal entities, so there is a transition from "corporate domination of friendship" to work with the citizens. This is evident from premium portfolio - basically, a contract is in voluntary: VHI, car CASCO insurance, cargo insurance and property.

According to him, this approach will allow before the end of the year to increase the amount of premiums to 2.5 million manat. Most of the profits will go to strengthening the capitalization, so the decision of shareholders in August AZN 1.5 million aimed at increasing the share capital, the amount of which was paid 5.8 million manat.

Buta Sigorta is owned by six shareholders - Qafqaz Lizinq, Baku Electronics, Bank of Baku, Baku Service Company, Auto Azerbaijan, each of which owns 19% of the shares, as well as NAB Holding with a 5% interest in equity.

Insurance company Buta Sigorta (formerly called Thames Insurance Group) with a paid charter capital of AZN 7 million has been operating in the insurance market since 1996.

The company provides services for the nominally 17 types of voluntary and three types of compulsory insurance.

From January to July this year, the premiums reached 565 thousand manat and the payments - 91.2 thousand manat. - 17D-