Azerbaijani insurance company’s premiums rise by almost 19% in 2013

Photo: Azerbaijani insurance company’s premiums rise by almost 19% in 2013
 / Business News

Baku, Azerbaijan, Feb. 27

By Emin Aliyev - Trend:

The insurance premiums of Azerbaijani AtaInsurance OJSC increased in 2013 by 18.9 percent, according to the company's message.

"AtaInsurance OJSC has summed up the results of its operations for the year 2013. According to the information, insurance premiums of the company equalled 12.6 million manats during the year," the company said. "Insurance premiums increased by more than 1.7 million manats compared to 2012. The insurance payments carried out by the company during this year were 0.25 million manats more than in 2012 and exceeded 3 million manats".

​​The company's authorized capital increased by 2.6 million manats throughout 2013 and reached 7.6 million manats, while the total amount of the assets exceeded 21 million manats.

"The balance sheet profit of AtaInsurance OJSC for 2013 was 1.7 million manats," according to the message.

The number of the company's employees increased and scope of its services became wider in 2013.

Thus, in 2013 some 54 new employees joined to the company, also one branch, six representative offices and five new sales offices were added to AtaInsurance's network.

"Overall, the company fulfilled the targets set in 2013 and continued to develop dynamically," according to the message.

AtaInsurance, an AtaHolding Company, has been operating in the insurance market since 2004 and renders services on 22 types of voluntary and four types of compulsory insurance.

AtaInsurance is a founder and member of Compulsory Insurance Bureau.

Service network of AtaInsurance OJCS consists of five branches, eight representative offices and six sales offices.

The official exchange rate on Feb. 27 is 0.7845 AZN/USD.

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