Azerbaijan, Baku, Oct. 19 / Trend A.Akhundov /
The Azerbaijani Insurance Company Pasha Sıgorta will not revise the forecast on the collection of premiums by late 2010, the company's Board Chairman Nofel Rzayev said.
"We have decided not to reconsider the forecast. The figure for 2010 was set at 10.5 million manat. Although we have sold insurance policies worth more than ten million manat in January-September, we do not set new plans and we did not audit year forecast," Rzayev said.
According to him, the sales forecast for late 2011 will be ready by Dec.1, 2010.
"We are developing a business plan for next year. We usually plan it in November. The sales forecast for late 2011 will be ready before Dec.1," Rzayev added.
According to the State Insurance Supervision Service under the Azerbaijani Finance Ministry, the company's total insurance fees totaled 7.08 million manat in January-August and payments - 1.59 million manat. The total amount of premiums for three quarters exceeded $ 10 million manat.
Pasha Sıgorta is a member of the group Pasha Holding. It offers 30 types of insurance services to corporate and individual clients. The company authorized capital hits 20 million manat. With total assets worth 28 million manat Pasha Sıgorta is among the country's three leading insurers in terms of capitalization, maintaining at the same time, one of the highest figures of the profitability in the country's insurance sector.
Pasha Sıgorta has been certified by Moody's as having attained the ISO 9001: 2000 standard since 2007. Pasa Sıgorta is also a participant to the UN Global Compact Initiative for the protection of human rights, environmental protection and countering corruption.
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