Azerbaijan, Baku, July 11 / Trend A.Akhundov /
The development dynamics of the Azerbaijani insurance market and performance of Pasha Sıgorta insurance company for the first half give enough optimism about strengthening of the company's leadership not only on the basis of the half-year, but the whole 2012, chairman of the Board of Pasha Sıgorta Nofel Rzayev said in an interview published on Wednesday on the company's website.
He said the total investment portfolio of the company exceeded 45 million manat.
"Revenues of the insurance companies consist of insurance and investment components. Total amount of insurance revenues of Pasha Sıgorta on written out polices for six months amounted to 26.6 million manat, and this is the figure that makes the company market leader. Another important thing for us is that Pasha Sigorta paid 11.2 million manat to customers in the form of compensation for insurance claims during the first half-year, which is number one in the insurance payments ranking. With the authorised capital of 35 million manat the total investment portfolio of the company exceeded 45 million manat with income from investments by 10 per cent higher than rate of return on investment projected in 2012," Rzayev said.
He said the present value of total assets reached 62 million manat as of six months of 2012.
Pasha Sıgorta, a member of the Pasha Holding, provides services to corporate and individual clients on 30 types of insurance. With authorised capital of 35 million manat Pasha Sıgorta is the leader of the national insurance market in terms of capitalization and one of the leading insurers and reinsurers in Azerbaijan.
The official exchange rate is 0.7856 AZN to $1 on July 11.