Azerbaijan insurance company expends client's base by 200,000 people

Business Materials 13 July 2011 13:42 (UTC +04:00)

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

The Azerbaijani life insurance company Atesgah Heyat signed more than 6,000 contracts on compulsory insurance against occupational accidents and diseases at work for the first six months, the company's board chairman Akbar Madatli told Trend.

"Out biggest customers are three national mobile operators - the Central Bank of Azerbaijan, Baku Steel Company, Azerbaijan Airlines Azal," Madatli said.

Madatli said that the company insured more than 200,000 workers.

"We plan to collect premiums worth 6-7 million manat for this type of insurance this year, in general, 7-8 million manat", Madatli said.

In July 2010 the President of Azerbaijan Ilham Aliyev approved the law on compulsory insurance on labor ability loss in production.

Only three companies - Atesgah Heyat, PASA Heyat and Qala Heyat - render life insurance services.

"Atesgah Heyat" is the first life insurance company in the country, established in December 2008. It has been providing legal services under the new law since December 2010.