Azerbaijan-American joint insurance company to increase premiums by 2 percent
Azerbaijan, Baku, Jan. 12 / Trend U.Ismayilova /
AIG Caspian Insurance, a subsidiary of American Chartis Insurance Comapny (AIG Insurance) in Azerbaijan collected premiums worth 1.651 million manat with 1.187 million manat in payments as a result of 2009, the company reported.
As of 2008 the company's premiums hit 1.62 million with 0.18 million manat in payments.
The majority part of payments and premiums is voluntary insurances particularly Non-life insurance. The company has collected 1.648 million manat with 1,187 million manat in payments on these types including premiums from disaster incident and diseases insurance, which hit 24,014 manat with 358 manat in payments, property insurance premiums hit 1.624 million manat with payments in 1.187 million manat.
Premiums from civil liability insurance made up 708,240 manat with 435,579 manat in payments 2009
Total premiums on obligatory insurance, particularly insurance from fire made up 3,419 manat without payments
The company did not implement operation on Life insurance in 2009
AIG Caspian Insurance control packet belongs to Azerbaijan (51 percent) and 49 percent to Chartis. The company's authorized capital is 3.5 million manat. The company provides seven types of voluntary services.
Chartis is a world leader in insurance, with 90 years of proven experience and customer service. The company serves more than 40 million clients in over 160 countries and jurisdictions. The company focuses on commercial and personal insurance, with over 500 innovative products and services that are backed by superior financial strength.
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