Azerbaijan life- company expects to increase premiums by 20 percent
Azerbaijan, Baku, Dec 24 /Trend A.Akhundov/
Azerbaijan company on life insurance Pasa Heyat Sıgorta expects to increase fees by 20 percent in 2012, deputy chairman of the company Niyaz Ismailov told Trend on Thursday.
"We expect the insurance fees to hit eight million manat by late 2012," Ismailov said.
The State Insurance Supervision Service under the Azerbaijani Finance Ministry stressed that, the company's fees amounted to 7.69 million manat in January-November.
"We will give preference to the development of voluntary types, the life insurance of persons who took a bank loan, etc.
Ismayilov stressed that the share of compulsory insurance in the company's fees is more than 80 percent.
"It will decline to 65-70 percent, and perhaps even lower in 2012," he said.
He said that the company insured about 200,000 at 600 enterprises on this type.
Official exchange rate is 0.7863 AZN/USD.