Azerbaijani insurance company expects increased insurance premiums
Azerbaijan, Baku, Aug. 13 / Trend I.Khalilova /
The Azerbaijani-Turkish insurer Basak-Inam Sigorta expects increased insurance premiums up to 3 million manat by late 2010, General Director Orkhan Hasanov told Trend today.
The company's insurance fees totaled 1.183 million manat with payments of 443,950 manat in early 2010, with premiums totaling 480,310 manat and payments hitting 234,020 manat.
"Basak-Inam Sigorta has a permit to provide 31 types of insurance services, and expects increased premiums on property, accident and health insurance," Hasanov said. "In terms of volumes, our company is the risk insurance leader within the Azerbaijan Mortgage Fund."
The company plans to earn roughly 400,000 manat in profit in 2010. About 150,000 manat were earned during the first half of the year.
The company also plans to increase its authorized capital stock from 2 to 3.5 million manat.
Basak-Inam Sigorta's assets totaled 3.74 million manat in 2009 - a 34.37-percent increase from last year. The company's total capital was 2.163 million manat last year compared to 632.418 manat in early 2008.