Azerbaijan, Baku, 11 July / Trend / Insurance payments of a large Azerbaijani insurance company MBASK numbered 191 totalling AZN 353,400 ($433,300) in June, with 92 contracts in the sum of AZN 203,100 ($248,500) being private and 21 contracts in the sum of AZN 19,400 ($23,800) corporate, company reported on 9 July.
Company's largest payment in June was fulfilled within an agreement on automobile insurance (AZN 12,200 or AZN $14,900).
Average period of paying off the payments was two weeks since submission of an application about an insurance event. When the amount of damages was little, the payment was implemented within several days.
MBASK operating in Azerbaijan since 1992 provides 29 insurance services, 4 of them compulsory. Company's authorized capital totals AZN 2mln. The European Bank for Reconstruction & Development acquired 30% of MBASK stocks in January 2005.