Azerbaijan, Baku, Jan.16 / Trend A.Akhundov /
A subsidiary of the U.S insurance company Chartis (AIG Insurance) in Azerbaijan, Chartis Azerbaijan collected insurance premiums worth 1.604 million manat in 2011, the company said on Monday. Over 93.33 per cent of fees or 1.497 million manat fell to voluntary insurance.
Chartis Azerbaijan collected premiums worth over 5964 manat on personal insurance. The company also collected 0.711 million manat on property insurance of which some 0.698 million manat fell to the property insurance against fire and other risks and some 10,800 manat - cargo insurance.
The company collected 0.78 million manat on liability insurance of which 0.7 million manat fell on general liability insurance and 57,800 manat - employer's liability insurance.
The company collected only 106,800 manat on compulsory types of insurance provided by fees on compulsory insurance against fire.
The insurance company paid compensation to the sum of 15.100 manat of which 14.7 was paid on types of property insurance in 2011.
The company's authorised capital is 3.5 million manat. The company renders services on one compulsory and 7 types of voluntary insurance.
Chartis (AIG Insurance) is a major international organisation in the field of property and personal 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.
The official exchange rate is 0.7864 AZN to $1 on Jan.16