Azerbaijan, Baku, Dec.27 / Trend U. Ismayilova /
Azerbaijan's only reinsurance company AzRe TekrarSigorta has already collected the premiums forecasted as a result of 2010, the company's board chairman Vusal Abbasov said today.
"Premiums of the company for the current year was forecasted in the range 20-25 million manat, and we ensured charges at this level," Abbasov said.
According to him, the aggregate capital of the company increased to 20 million manat, the authorized capital - from 12 million manat.
The first Azerbaijani reinsurance company AzRe received a license from Azerbaijan's Ministry of Finance on Nov. 7, 2007. The company's shareholders are six physical entities. The company renders non-life insurance services both to local and regional insurance and reinsurance companies and reinsurance intermediaries, in particular, on property insurance, construction assembly risks, insurance of water, air and road vehicles, cargo insurance, insurance against accident, liability and financial risks.
Abbasov said, at present, the company is actively cooperating with all existing local insurance companies, and even from mid-2010 entered international insurance markets, particularly, takes risks in such countries as Russia, Kazakhstan, Georgia, and the Middle East countries, Oman, Dubai .
"The company's main goal is to increase the share of foreign contracts in the total portfolio. In the future, exceeding the share of foreign reinsurance contracts over share in the local market is also possible," Abbasov said.
The official exchange rate on Dec. 27 is 0.7985 manat.