Azerbaijani Insurance Company Collects over AZN 10mln Premiums
Azerbaijan, Baku, 23 July / Trend / MBASK, one of the largest insurance companies in Azerbaijan, has collected AZN 12.5mln premiums for six months in 2008, more by 166% compared to the mentioned period in 2007.
From January-to June 2008, the automobile insurance reached 72% (AZN 9.017mnl), medical insurance - 7.2% (AZN 899,300) and property insurance -5.2% (AZN 655,900).
Company's insurance payment (AZN 2.5mln) exceeds this index in 2007 by 40% or AZN 1.039mln.
Traditionally, the most payment was implemented with automobile insurance deals - AZN 1.7mln, medical insurance - AZN 459,000, accident insurance - AZN 146,000 and property insurance - AZN 77,000.
The average duration to get deal payment was reached within 15 days.
Company's large-scale payment within six months was implemented within the framework of the automobile insurance deal and touched AZN 82,700.
MBASK, operating in the Azerbaijani insurance market since 1992, offers 29 kinds of insurance services, including 4 obligatory. The company's authorized capital amounted to AZN 2mln. The European Bank for Reconstruction and Development (EBRD) shares 30% of MBASK stock since January of 2005.
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