Azerbaijani Insurance Company publicizes premium collection plans for 2010

Business Materials 22 February 2010 12:48 (UTC +04:00)

Azerbaijan, Baku, Feb. 22 / Trend U.Ismayilova/

One of the major insurance companies of Azerbaijan A-Qroup plans to keep the volume of premiums by the end of 2010 in the level as minimum equal to figure in 2009, A-Qroup CEO Anar Bayramov said on Feb. 22. The volume of collected premiums by A-Qroup totaled 7.23 million manat in 2009, with 5.05 million manat in payments.

"The plans are linked with the current situation of cut in total volume of premiums in the market," Bayramov said.

Bayramov said the company still intends to increase the collections at least 10 percent, but it will depend on the common state of the insurance market in the country.

Insurance Company A-Qroup renders 3 types of compulsory and 14 types of voluntary insurance. Authorized capital of the insurance company is 1.55 million manat. The company premiums decreased by 6.7 percent but payments rose by 5.1 percent in 2009 compared to 2008.

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