Azerbaijan, Baku, Sept.21 / Trend /
Ateshgah Life Insurance Company, which is part of Ateshgah Insurance Group, wins a tender announced by BP Azerbaijan, the company's press release says.
Ateshgah Life is to insure the employees of BP Azerbaijan as required by "Law on compulsory disability insurance as a result of industrial accidents and occupational diseases"", which was passed in Dec 2010.
Ateshgah Life was the first life insurance company registered in Azerbaijan as well as the first company which obtained an unlimited license for insurance according to this law.
Ateshgah Life provides services for the following life insurance products: term life insurance, endowment insurance, annuity insurance, critical illness insurance and compulsory disability insurance as a result of industrial accidents and occupational diseases.
Ateshgah Insurance Company was founded in 1996 and in 1997 it obtained a license for insurance activities. SOCAR, İSR HOLDİNG and RAN - Eksim are the shareholders of the company.
Ateshgah Insurance Group comprises Ateshgah Life Open Joint-Stock Insurance Company, Ateshgah Open Joint-Stock Insurance Company as well as Intermed Clinics.
According to 2010 data Ateshgah Insurance Group was ranked third among the insurance companies of Azerbaijan. For the above period the premiums of the Group amounted to 15.6 mln. manat and the claims to 5.3 mln. manat respectively. Ateshgah Insurance Group provides services for more than 30 types of insurance.
The official exchange rate is 0.7866 manat to $1 on Sept.21.