Azerbaijani life insurance company plans to increase charges by nearly half
Azerbaijan, Baku, July 5 / Trend A.Akhundov /
Azerbaijani life insurance company Ateshgah Heyat plans to collect premiums in 2012 amounting to 14 million manat, chairman of the company's board Akbar Madatli told Trend on Thursday.
According to the State Insurance Supervision Service under the Azerbaijani Finance Ministry, in 2011 the company collected premiums amounting to 9.52 million manat, in Jan-May 2012 - 9.23 million manat.
"For the first five months approximately 4.5 million manat fell to compulsory insurance of workers against accidents and occupational diseases and the remaining - voluntary insurance. In the segment of voluntary insurance most premiums were collected by accumulative life insurance," Madatli said.
He said that by the end of the year the share of compulsory insurance in the company's charges will decrease.
"The share of compulsory insurance by the end of the year will decline, since most contracts on this type last year were signed in the first half of the year, and therefore they are also updated in the first half," Madatli said.
The official exchange rate is 0.7856 AZN to $1 on July 5.