Azerbaijani insurer to provide insurance products for private business
Azerbaijan, Baku, Aug. 2 /Trend A.Hasanov/
Qarant Sigorta Insurance Company plans to provide new products for the insurance of the private sector in the autumn, CEO Fuad Allahverdiyev told Trend on Thursday.
He noted that 80 percent of charges were brought by the corporate sector and the remaining 20 percent accounted for by private businesses during the first half of the year.
"This situation indicates a lack of development of private sector insurance. With this in mind, we develop new products and attract new customers, which will increase the fees from private clients in the total amount of premiums," Allahverdiyev said.
He noted that, the company develops new products with the assistance of underwriting companies.
"We regularly develop products and offer them for consideration to our customers, and we hope that it will be possible to offer a new insurance product for private business in the autumn," Allahverdiyev said.
Insurance company Qarant Sığorta received license for insurance activity in November 2007 from the Ministry of Finance of Azerbaijan. Qarant Sığorta is part of the ZQAN Holding.