Azerbaijan, Baku, May 14 / Trend A. Akhundov /
Azerbaijani insurance company Qarant Sıgorta has focused on the development of retail services, company chairman Fuad Allahverdiyev told media today.
"At present, about 80 per cent of our customer base falls to the corporate segment, but the share of retail services is still low," he said. "The company is working to develop retail services and prepare the necessary products."
In particular, the company's plans to expand its branch network are connected with this development, he said. It plans to open branches in the north of the country in 2012, perhaps in Guba and in the southern part of the country. Today, Qarant Sıgorta has four branches in Baku, Ganja, Sheki and Yevlakh.
"The increase in the share of retail services in the portfolio increases its stability," he said. "The more small risks in the company's portfolio, the more it is stable."
The Qarant Sıgorta insurance company received a licence for insurance trading at the Azerbaijani Finance Ministry in November 2007. The company is part of ZQAN Holding