Two years obligatory premium of AzSigorta exceed voluntary fees

During 6 months 2013 AzSigorta insurance company collected 21,457,072 AZN and was ahead of the last year’s schedule by 3 million AZN.  By July 1, 2012 the showings totaled 18.38 million AZN.

This is the only company, which premium from obligatory insurance, exceed voluntary fees during two years. In 2011 77.3% fell to voluntary types of insurance, but in 2012 their specific weight constituted 42.9%, while this year – 49.1%. 10.55 million AZN of voluntary premium has been collected.

Insurance of cargoes occupies the leading position in this sector – 4,787,029 AZN. This is almost half (45.4%) of premium of all types of voluntary insurance. On the second place is property insurance against fire and other risks – 3,868,026 AZN (last year the collection was 3 times lower). The experts believe that in case of lack of force major, the position will get stronger at the expense of the resources of the Ministry of Emergency Situations, with which this company is connected.

The popular in the past CASCO car insurance is behind. But now AzSigorta company has strengthened its positions in voluntary medical insurance – 511,093 AZN. 152,024 AZN was collected from insurance against  industrial accidents and diseases, 25,079 AZN from insurance of water transport, 11,026 AZN from insurance of air transport and 9,025 AZN from travel insurance.

Insurance of civil responsibility had added 194,800 AZN into the piggy bank. Majority of it (173,031 AZN) fell to civil responsibility to the third persons and  21,049 AZN to insurance of responsibility of the car owners. 22,010 AZN was collected from insurance of credits, but this type of insurance does not work fully, because of the regulated and monopoly economy.

10,906,098      AZN was collected from obligatory types of insurance. 1,892,300 AZN was collected from insurance of property against natural calamities and 71,076 AZN from responsibility of the property owners.

The company’s payments totaled 4 million AZN, the compensations mainly fell to car insurance – 634,050 AZN and voluntary medical insurance (366,042 AZN). 158,023 AZN was paid for obligatory insurance of responsibility of owners of transportation, 112,014 AZN for the obligatory insurance against fires and 206,018 AZN for voluntary insurance against fires.

AzSigorta insurance company obtained the license in November 2006. One physical person is the shareholder of the company.

The company’s authorized capital totals 20.3 million AZN.

The company has the license to provide 28 types of insurance, of which 24 ones voluntary and 4 ones obligatory types of insurance.

The company has 6 branch offices in the regions.—0—