Azerbaijani-Turkish insurance company increases premiums
Azerbaijan, Baku, July 22/ Trend, I. Khalilova /
The Azerbaijani-Turkish insurance company Basak-Inam Sigorta increased its premiums to 1.183 million manat with payments worth 443,950 manat as a result of activities in the first half of 2010. This quarter, premiums increased 2.46 times and payments 1.9 times.
Most insurance collections fell to voluntary insurance (1.175 million manat).
The company collected property insurance premiums worth 749,684 manat, and personal insurance and disease premiums worth 425,378 manat, including health insurance premiums worth 136, 547 manat.
The company also collected compulsory insurance premiums worth 8,280 manat, including 7,480 manat at the expense of motor vehicle liability insurance.
Some 99.45 percent (441,510 manat) of payments were made for voluntary insurance, including 269,600 manat on property insurance. A total of 132,400 manat were paid for fire insurance and 136,400 manat for vehicle insurance.
The company renders 31 insurance services.
Basak-Inam Sigorta's assets totaled 3.742 million manat in 2009, up 34.37 percent from the previous year. The company's paid authorized capital was 2 million manat last year compared to 1 million in early 2009. The company's total capital amounted to 2.163 million manat last year compared to 632.418 manat in early 2009.
Basak Inam was established in 1996.
On July 21, the official exchange rate is 0.8037 manat to $1.