Azerbaijani Insurance Company plans to increase sales volume by 30 percent in 2011

Business Materials 12 May 2011 13:41 (UTC +04:00)

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

Azerbaijani Insurance Company Qarant Sıgorta plans to raise premiums worth about 8-9 million manat in 2011, Qarant Sıgorta chairman of board Vagif Hasanov said in an interview with Trend.

"We plan to increase our sales by 30 percent compared to last year," he said. "Taking into account last year's profits of over 7 million manat, this year we plan to collect about 8-9 million."

In 2010 the premiums exceeded 7 million manat with payments worth 2.4 million manat. The fees increased by 68 percent compared to 2009.

He said that the company seeks to join the private sales market in 2011.

"We will do everything in our power to achieve this goal," he said. "We have opened our insurance agency and created the telemarketing department. The sales department is also geared toward this. At present we intend to open a big office for private clients."
The Qarant Sıgorta insurance company obtained a license for practicing insurance activity from the Azerbaijani Ministry of Finance in November 2007. Qarant Sıgorta is a part of ZQAN Holding.

The official exchange rate is 0,7908 manat to $1.