Over 98 percent of Azerbaijani-U.S insurance company fees used by voluntary insurance

Business Materials 13 July 2011 13:05 (UTC +04:00)

Azerbaijan, Baku, July 13 / Trend, A. Akhundov /

The subsidiary of the American insurance company Chartis (AIG Insurance) in Azerbaijan, Chartis Azerbaijan, collected insurance premiums to the amount of 647,547 for the first six months of 2011, the company said.

Over 98 percent of premiums, 637,689 manat, were collected by voluntary insurance.

Chartis Azerbaijan collected premiums worth 5.660 manat on accidents and diseases.

During the reporting period the company collected 632,029 manat, 278,980 manat of which came from property insurance against fire and other risks, 5,147 manat from cargo insurance, 313,859 manat from general civil liability insurance, and 34,043 manat from employers' liability insurance.

The insurance company collected only 9,858 manat on compulsory types of insurance. This amount has been provided from fees on compulsory fire-prevention insurance.
The company's payments hit 7,366 manat for the first six months.

The company's authorized capital reached 3.5 million manat.

Chartis (AIG Insurance) is a major international organization in the field of property and personal insurance (insurance other than life insurance). It serves over 40 million customers in more than 160 countries and jurisdictions. Chartis, having a 90-year history, offers one of the widest spectrums of products and services. It helps both corporate clients and individuals to confidently manage risks.