Azerbaijani insurance company announces 40-percent-reduction of premiums for 2009

Business Materials 7 January 2010 12:40 (UTC +04:00)

Azerbaijan, Baku, Jan. 7 / Trend U. Ismayilova /

Azerbaijani insurance company Azergarant's premiums reduced 40 percent as a result of 2009, the company's board deputy chairman Shukur Huseynov said.

"According to operative data, premiums collected as a result of 2009 hit 60 percent," Huseynov said.

He said as a result of 2008 the company collected premiums more than 1 million manat. As a result of last year, this index hit 600,000 manat. The company's payments also reduced from more than 100,000 manat in 2008 to 70,000 manat in 2009.

Speaking about forecasts for the current year, Huseynov said improvement of financial indices is a major task. The company intensifies the work with agents to attract new corporative clients, as well as strengthen potential of Azergarant's regional branches.

Azergarant insurance company has been operating on Azerbaijani market since 1993. The company's authorized capital is 2.7 million manat.