Azerbaijani insurance company's premiums rise

Business Materials 12 May 2011 11:00 (UTC +04:00)

Azerbaijan, Baku, May 12 / Trend, A.Akhundov /

The Azerbaijani insurance company Basak-Inam Sıgorta Sirketi has collected 1.086 million manat in premiums and payed 0.36 million manat in compensations in January-April 2011, the company told Trend on Wednesday.
The company's premiums for the first four months of 2011 increased by 42 percent as compared to the same period last year. The payments have increased by 35 percent.
Premiums increases were seen in CASCO insurance (4.5 percent), electronic equipment (10.2 percent), glass breakage (40 percent), accidents and diseases (160 percent), health insurance (84 percent) and in other types of insurance cases.
The company's payments on CASCO increased by 62 percent over the year, civil liability vehicle owners' insurance increased by 24 times, insurance of glass breakage by 25 percent and health insurance by 47 percent. Accidental and disease insurance has doubled. In general, this period's ratio of insurance payments to insurance premiums has reached 33 percent.
The Azerbaijani insurance company Basak-Inam Sıgorta Sirketi has operated in the national insurance market since 1996.
The official exchange rate is 0.7908 manat to $1 on May 11.