Azerbaijan, Baku, Feb.21 / Trend U. Ismaylova /
The Azerbaijani insurance company Atesgah Heyat has signed 1,316 mandatory insurance contracts as of Feb. 18 against disabilities resulting from occupational diseases and industrial accidents, Atesgah Heyat Deputy Chairman Akbar Madatli said on Monday. The company signed the first contract for this type of insurance on Dec. 23.
"The total amount of collections on these contracts amounted to 542,000 manat," Madatli said.
He added that according to the contracts the company has insured 30,724 employees.
Regarding forecasts for later this year, Madatli said the portfolio for this type of insurance will increase to 7.8 million manat.
The company expects a significant growth in its portfolio on such insurance services in the near future.
"We intend to occupy 50-60 and even 70 percent of the market in terms of this new kind of insurance over the next 2-3 months," Madatli said.
Atesgah Heyat Sigorta Sirketi was established in early 2008. The only founder of the company is the insurance company Ateshgah Sigorta Sirketi, whose shareholders are ISR the Holding, SOCAR and RAN-Eksim. The company's premiums as a result of 2010 totaled 1.04 million manat with payments at 0.02 million manat.
The official rate is 0.7948 manat to $1 on Feb. 21.