Azerbaijan, Baku, 9 April / Trend corr U. Ismayilova/ MBASK, the largest insurance company of Azerbaijan, doubled its premiums in 2007 to AZN 15mln, the company reported on 9 April.
The largest rise in premiums was in automobile insurance - AZN 9.409mln, which is by 60% or AZN 5.6mln more than in 2006.
Market analysis confirms MBASK's leadership in this segment of the insurance market, the report said.
Growth of premiums on life insurance made up AZN 1.4mln (annual growth totaled 100%).
Growth was also observed in the real estate insurance - AZN 1.6mln. The volume of insurance premiums in this segment doubled as compared to that of 2006 (AZN 868,100).
According to the experts of the company, the fundamental growth of premiums will be achieved through implementation of MBASK's development strategy.
In 2007, the company payments increased by 31.4% (AZN 1.034mln) and reached AZN 3.3mln as compared to 2006.
The largest payment in 2007 was carried out within the framework of the agreement on real estate insurance - AZN 166, 400 ($192.4).
MBASK, which has been operating in Azerbaijan's insurance market since 1992, provides 29 insurance services, with 4 of them obligatory. The authorized capital of the company is AZN 2mln and a third part of its stocks is owned by EBRD.
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