Azerbaijan, Baku, Oct. 4 / Trend A.Akhundov /
The British-Azerbaijani Insurance Company Temza Sigorta Qrupu plans to collect premiums more by 20-25 percent [compared to the figure of 2009] by late 2010, Company CEO Samir Mustafayev said on Monday.
He said the company expects to increase the volume of premiums to 1.3-1.5 million manat by late 2010.
According to the State Insurance Supervision Service under the Azerbaijani Finance Ministry, the company collected insurance premiums amounting to 0.31 million manat in January-August and paid compensation amounting to 0.12 million manat. In 2009, the company collected premiums of 0.93 million manat, while payments amounted to 0.89 million manat.
Mustafayev said the company will be able to increase the volume of insurance collections by signing several contracts that are under development now.
Temza Sigorta Qrupu is owned by the British Glencarron Group Limited (49 percent), which has operated on the Azerbaijani market since 1996, and Azerbaijani physical and legal entities, such as Gala Investment.
The company provides 24 types of services, of which four are mandatory and 20 - voluntary.
The official exchange rate is 0.8024 manat to $1 Oct. 4.
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