Azerbaijani insurance company increases amount of premium collection by 125 percent
Azerbaijan, Baku, Nov.11/ Trend, A.Akhundov /
The Azerbaijani Insurance Company Alfa Sıgorta collected premiums amounting to over 1.9 million manat in January-October, which is 125 percent more than the same period of 2009, Alfa Sigorta Board Chairman Khayal Mammadkhanli told journalists.
He said during the same period of 2009 the company collected 800,000 manat.
"This is very optimistic figure against the background of the Azerbaijani insurance market's current state. We planned to collect two million manat by late 2010 and we have practically achieved this goal," Mammadkhanli said.
Over the past period the company's balance sheet profit amounted to about half a million manat.
"The company's income has increased by 10-15 percent compared to the same period of 2009," he said.
OJSC Alfa Sıgorta was founded by the local OJSC Texnikabank, which bought 100 percent stake in the company in December 2006.
Alfa Sıgorta is licensed to provide 30 kinds of insurance services, including six - compulsory and - 24 voluntary. The authorized capital of the company amounts to 3.1 million manat.
Official exchange rate is 0.8 manat to $1. Nov.11.