About third of Azerbaijani insurance company's fees falls to medical insurance

Business Materials 23 July 2011 16:43 (UTC +04:00)

Azerbaijan, Baku, July 23 / Trend, A. Akhundov /

Pasa Sıgorta insurance company provided 30.88 percent of fees in the first quarter of the year or 1 million 133.856.19 manat at the expense of the health insurance, the company said.

In general, the company collected premiums worth 3 million 671.440.3 manat, reimbursement - 1 million 087.308.58 manat in January-June. The fees dropped by 6.11 percent, reimbursement increased by 0.65 percent compared to the same period of last year.

Pasa Sıgorta collected 830.799.72 manat (22.63 percent of premiums) from motor insurance and paid 251.488.81 manat (23.13 percent of total reimbursement).

The company collected 52.247.88 manat with payments of 76.9 manat insuring against accidents and diseases for the first six months of the year, air vehicles insurance - 8.684.95 manat with payments of 14.465.77 manat, insurance of ships - 20.318.6 manat without payments, freight insurance - 39.989.55 manat with payments of 18.947.37 manat, liability insurance - 389.771.92 manat with payments of 14.576.81 manat, other types of property insurance - 1.059.805.46 manat with payments of 57.353.79 manat.

About 8,422 manat fees with payments worth 5,170 manat fall to compulsory insurance of civil liability of vehicle owners, compulsory insurance against fire - 98.825.33 manat without payments, compulsory environmental insurance - 3,068 manat without payments.

About 25.650.7 manat were collected from life insurance in case of death and paid 50.056 manat.

Azerbaijani insurance company Pasha Sıgorta plans to collect premiums totaling $10.5 -11 million manat this year, the company's board chairman Nofel Rzayev said earlier. Last year the company forecasted the same volume of premiums, but eventually premiums was collected at 13.05 million manat.

He said the company does not set task to rise in the rankings of companies in terms of premiums.

Pasa Sıgorta, a member of Pasa Holding, was registered on March 3, 2006. It provides services to corporate and individual clients on 30 types of insurance. The authorized capital amounts to 30 million manat. Pasa Sıgorta is a leader in terms of the capitalization volume in country's insurance market.