Azerbaijan, Baku, Jan. 15 / Trend A. Akhundov /
More than 37 percent of Azerbaijani AXA MBASK insurance company's charges in 2012 accounted for mandatory liability insurance of vehicle owners (CTP), the company told Trend on Tuesday.
During the reporting period, the company collected premiums totaling 17.7 million Manat, of which 6.7 million manat accounted for CTP. The company also entered into agreements on compulsory insurance on real estate to the tune of 144,000 Manat, compulsory liability insurance during the operation of real estate at 15.700 manat, compulsory insurance of passengers at 2.9 million manat.
Some 34.7 percent of the company's premiums fell to voluntary vehicle insurance coverage. In this field, the company collected 6.15 million Manat, while 1.6 million Manat were collected on property insurance against fire and other risks, 0.62 million Manat were allocated for cargo insurance, 0.11 million Manat went to insurance of water transportation.
The company collected nearly eight percent of premiums, or 1.41 million Manat on voluntary medical insurance, 0.35 million Manat from insurance against accidents and illnesses and 0.12 million Manat on insurance from citizens traveling abroad.
AXA MBASK's compensations totaled 5.87 million manat in 2012, of which 4.05 million Manat were paid on the voluntary insurance of vehicles, 0.86 million Manat were paid on CTP, 0.52 million Manat were paid on voluntary health insurance.
The company's fees increased by 39.15 percent compared with 2011, while payments grew by 81.17 percent.
In October 2010, MBASK insurance company's main shareholder was replaced. The controlling share package (51%) was acquired by French AXA Group through its subsidiary AXA Sequros Generales, SA, De Sequros y Reasequros (Spain). MBASK's license was updated to AXA MBASK on December 7, 2010 in connection with the change of company name.
A world leader in financial protection, AXA Group operates in 57 countries around the world with the greatest concentration of activity in Europe, North America, Asia Pacific and the Middle East.
The official exchange rate on January 16 is 0.7849 AZN/USD.
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