Azerbaijani Insurance Company Announces Activities Results for May
Azerbaijan, Baku, 10 June / Trend corr. U.Ismayilova / MBSAK, one of the largest insurance companies of Azerbaijan, collected the record insurance premiums in May. The company collected AZN 2,585,250 premiums in May 2008, more by 156% compared to January-May 2007 (AZN 3,268,401).
Rashad Abasov, Deputy Chairman of MBASK, sated that the increase of premiums was observed as a result of permanent increase of quality standards to serve clients and efficient and fruitful work by united professionals group.
MBSAK implemented 118 insurance payments with total sum of AZN 339,032 in May.
In May, the largest payment was implemented by the company within the framework of the automobile insurance agreement and totaled AZN 82,712.
MBASK has been rendering 29 types of insurance and four obligatory insurance services since 1992. The authorized capital of the company is AZN 2mln. Since January 2005, MBASK 30% shares belongs to the European Bank of Reconstruction and Development.
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