Azerbaijan, Baku, 13 Feb/ Trend, A. Akhundov /
The Azerbaijani International Insurance Company (IIC) expects to increase its fees in 2013, Chairman of the Board Mamed Sadiq Mamedov told Trend.
According to the State Insurance Supervision Service under the Ministry of Finance of Azerbaijan, in 2012, the company's fees totaled 14.78 million Manat, an increase of nearly 20 percent.
"It is difficult to make any predictions. However, even without a work permit for compulsory insurance, we expect an increase in insurance fees for banking business, corporate clients and the medical database. Naturally, if we join the Bureau of Compulsory Insurance, we expect even more growth," Mammadov said.
Last year, the company appealed to the Ministry of Finance for a license for compulsory insurance on immovable property, compulsory liability insurance for vehicle owners (CTP), and liability insurance on real estate.
"Currently, our fees are collected mainly from voluntary motor insurance (CASCO) and health insurance," Mammadov said.
The International Insurance Company was established in 2002.
The official exchange rate on Feb. 13 is 0.7848 AZN / USD.